Customer experience is a key element to how your brand is perceived and drives customer loyalty. Surveys indicate that customers are likely to spend more money with companies that have great customer service. In today’s competitive marketplace, customers can easily turn to another company when one does not meet their expectations.
What Is Customer Service?
We first need to understand what customer service is before digging into customer service statistics. In a nutshell, customer service offers guidance and support to customers before – and after – customers make a transaction.. Even after the sale, customer service continues to play a critical role.
Below, is a list of customer service statistics that companies should be aware of:
General Customer Service
- Companies with a customer experience philosophy demonstrate 4-8% more revenue than those that don’t.
- Brands with superior customer service attract 5.7x more sales than competitors lagging with their customer experience.
- 59% of customers have higher customer service expectations than they did until a year ago.
- 95% of customers claim that customer service is important to brand loyalty.
Customer Services and Social Networking
- 48% of customers expect a response to concerns and complaints on social media within 24 hours.
- 65% of individuals aged 18-34 claim social media is a productive customer service channel.
- Social media has been used by 1/3 of Americans to comment on a company or its customer service.
Brand Loyalty and statistics for brand building
- 67% of customers agree that standards of customer engagement have risen.
- 33% of customers have abandoned a working partnership with a company due to lack of personalization
- 2/3 of the customers share personal data with companies, in exchange for perceived value.
- 48% of customers demand specialized support.
Customer Retention Statistics
- 81% of customers make purchase decisions based upon how much they trust the company.
- 54% of American consumers agree that most companies ought to maximize service to their customers.
- Happy customers are 87% more likely to buy the latest feature/services than unhappy customers .
- 61% of loyal customers will attempt to purchase from their preferred companies.
- Returning customers pay an average 33% more than all customers per transaction
In addition, loyal, happy customers don’t just pay more per transaction, they also help companies expand by word-of-mouth, which is “free marketing”.