A good customer experience is crucial for a business' success. Poor customer service is a major problem for businesses, costing them $75 billion every year. Bad customer service leads to consumers switching vendors and nearly half will do so after only one negative experience. If your customer service representatives are friendly, helpful, responsive, and kind, customers are more likely to love your brand.
Millennials are a top client base
According to customer service statistics, Millennials are willing to pay 21% more for a brand that provides excellent service. These customers have different expectations than other generations, which means that customer service needs to change accordingly. 63% of millennials contact customer service online. 43% prefer to reach out to companies via their smartphones. It is therefore important to develop a customer service strategy that meets their needs.
Millennials value good customer service more than any other generation. Customer service statistics show that millennials will pay more for exceptional customer service than Baby Boomers and Gen X. They also like to feel that a business cares about them. However, only 4% of millennials complain about bad customer care, while 96% remain silent. However, most people who are unhappy with a service experience will tell at minimum nine others about it. 13% will even tell more people.
Poor customer service costs businesses $75 billion a year
A recent NewVoiceMedia report found that poor customer service costs businesses $75Billion annually. This represents an increase of $13 trillion over the previous year and organizations need to act. It is difficult to pinpoint the cause of poor customer care, but research suggests that companies are suffering from internal mistakes, changing consumer expectations, as well as a host of other problems. Organizations are losing money each year because of substandard customer care, no matter what the reason.
Research shows that people remember bad experiences far more than good ones, and a single negative experience can scare away a loyal customer. Even if customers don't make complaints to companies directly, they will share their dissatisfaction with up to 16 people and possibly turn them away from other companies. In addition, 51 percent of customers will not do business with a company again after a negative interaction. As a result, organizations need to invest in prevention strategies to avoid this costly mistake.
Social media is the second-most used communication channel
Social media can be used to provide customer service. It allows businesses access to customers and answer any questions quickly. It also allows businesses to reach a worldwide audience. To ensure that your customers are happy, however, it is crucial to learn how to properly use social media.
Telephone calls were historically the most efficient way to resolve customer complaints. It beat the postal service. Social media has made customer service more personal. Using real-time communication can make a difference in gaining customers and increasing sales. Responding quickly to social media users can lead to a 3-20% increase in sales.
Millennials are the most sensitive to poor customer services
According to a recent survey, millennials seem more forgiving of poor customer service compared to older generations. 39% would return to a business for bad customer service, according to a recent study. Only 23% of older customers would repeat the same bad experience. If millennials are to keep their businesses, they must improve customer service.
While millennials have long been a target market, they also have their downsides. They are notoriously sensitive to poor service. This has led to many companies trying to reach the generation.