The Actual Cost Of Bad Customer Service Entrepreneurs Should Know
There is a saying that customers are always right, but is that really true? Could this be the reason why customers service is an integral part of modern business management strategy?
How do you treat your customers? Obviously, happy customers are more likely to refer your service, product or business to their friends, family and colleagues via word-of-mouth marketing. So, do you think your customers are satisfied doing business with you?
Have you done enough to convince them to come back to do business with you? What is the actual cost of bad customer service to your business?
Customers are so powerful, they can make your business grow or make it fold up. This is why making customers happy by meeting and exceeding their expectations is one thing every business owner must prioritize.
So you are still wondering why they say customers are always right? Yes, they are always right until you are able to convince them otherwise. This is why big brands usually invest huge amounts of money in customer service and support.
The cost of bad customer service
The undeniable fact is that networking and relationships building is essential for a business to be successful. It is an aspect of business management strategy no business owner can toy with.
But how can your business build great customer relationships that will have positive effects on your business? One thing is building customer relationships and the most important thing is actually maintaining the relationships. How do you handle customers’ concerns?
Is your customer service up to the task of convincing your customers to do business with you again? So what is the real cost of bad customer service to your business? The infographic below by Salesforce Desk highlights the real cost of having a bad customer service that doesn’t do its job properly:
Hi Adeyemi,
Those billion dollar numbers are eye popping and for good reason; bad customer service is fully preventable. You need not cheese of a customer until they are wrong and in that case, let go those folks quickly to create a vacuum for good customers. I do my best to service my customers from a polite, helpful and pro space. It’s worth it. Always is. Awesome post dude. Thanks for sharing with us.
Ryan
Bad customer service simply means bad business. I was once badly treated by a Virgin Media customer service over the phone and I immediately cancelled my contract with them.
Hi Adyemi,
Got here from Bizsugar platform, truly amazing infographic, I must say! Totally agree with the point that relationship marketing is essential for success of business not to mention the fact that each our in USA alone over 115 small businesses pops each hour excluding online startups!
What that means is, immense competition, competition that increases each hour not to mention the fact that majority of these businesses are me too’s or having product/service similar to the one already offered by millions of businesses (in USA).
And the fact is due to that immense competition, homogeneous products/service, crazy marketing clutter (online/offline) has made life really hard for new businesses and old business to differentiate themselves from the rest!
So what should be done in such situation ? the answer is focusing on relationship marketing, building relationship with your customers, which will ultimately result in that much needed “differentiating your brand from the rest” and to achieve a great relationship, one sure way is GREAT CUSTOMER SERVICE!
Individuals billion dollars buck numbers are eye popping and even for good reason; bad customer service is entirely preventable. You need not cheese of any consumer right up until they can be incorrect and if so, enable go those individuals quickly to make a vacuum once and for all customers. Wonderful post guy. Thanks for sharing with us.