Question

Two reasons why excellent customer service is important to every business

Answer 1

1) Prevents business failure

About 96% of American businesses close their doors within 10 years. One of the contributing problems is poor customer service. Buyers become frustrated over small problems that are not addressed. It happens when a business does not have good customer service associates who follow up on questions and promptly fill requests.

2) Creates endorsements

Loyal customers provide positive endorsements and good online reviews that can help businesses strengthen their brand. A loyal customer, on average, is 10 times more valuable than their first purchase. Research shows that people often make purchasing decisions based on recommendations from family and friends vs. advertising messages. Here are four statistics:

About 97% of customers will tell others about very good or excellent customer service experiences.
Nearly 70% of people would spend more money with a company that has excellent customer service.
Approximately 24% of satisfied customers will return to a business two or more years after a good customer service experience.
Research shows that 59% of people would try a new company to receive better customer service.


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