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Key customer insights like customer satisfaction score and NPS help your customer service team improve and grow their impact. It helps grow revenue, maintain customer loyalty, and improve your overall business strategy. ( Grand View Research)Īs you can tell, excellent customer service is a name maker, no matter what your industry. This is a 16.9% year-over-year increase from its value of $6.5 billion in 2019. The customer experience management market worldwide is worth as much as $7.6 billion in 2020. ( Harvard Business Review)ħ2% of companies believe they can use analytics reports to improve the customer experience. ( Bain & Company)Ĩ0% of companies use customer satisfaction scores to analyze customer experience and improve it. ( Khoros)īusinesses can grow revenues between 4% and 8% above their market when prioritizing better customer service experiences. ( Invesp)Ĩ3% of customers agree that they feel more loyal to brands that respond and resolve their complaints. Investing in new customers is between 5 and 25 times more expensive than retaining existing ones. Consumers who rate a company’s service as “good” are 38% more likely to recommend that company. ( Zendesk)Ī good customer service experience heavily impacts recommendations. Nearly three out of five consumers report that good customer service is vital for them to feel loyalty toward a brand. Increasing customer retention rates by just 5% can increase profits by between 25% and 95%. If the company’s customer service is excellent, 78% of consumers will do business with them again after a mistake. ( Salesforce Research)ĩ3% of customers are likely to make repeat purchases with companies who offer excellent customer service.

( Bain & Company)Ĩ9% of consumers are more likely to make another purchase after a positive customer service experience. ( Khoros)Īn NPS Promoter score has a customer lifetime value that's 600%-1,400% higher than a Detractor. ( HubSpot)įor 86%, good customer service turns one-time clients into long-term brand champions. Not convinced? Here are a few customer service statistics that serve to emphasize just how paramount excellent customer service can be for your bottom line:Ħ8% of consumers say they are willing to pay more for products and services from a brand known to offer good customer service experiences. It’s easier to make a sale when your customers feel supported, and word-of-mouth marketing after an extraordinary experience is one of the best pitches on the market. Not only that, but if your customer service team does a fantastic job, it may help boost your other teams’ effectiveness. Not only does it feel good to be helpful, but it is a key differentiator, as the following customer service statistics show.Ĭustomer service, when done well, has just as much impact as a strong sales funnel or excellent marketing efforts. It’s our job every day to make every important aspect of the customer experience a little bit better.” –Jeff BezosĮveryone wants to be known for providing excellent customer service.

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