Customer service should always be on our mind, and 2015 is no exception. In fact, a majority of companies surveyed state they plan to increase their customer management spend in 2015 (2014 Call Center Executive Priorities Report). You might also find it interesting that it is projected by 2020 that customer experience will be the most heralded competitive differentiator for businesses, beyond products and services even.
Here are some more interesting statistics from 2014 to help you optimize your customer experience in 2015 and increase customer retention.
1. 82% of consumers say the number one factor that leads to a great customer service experience is having their issues resolved quickly.
2. Reducing your customer defection rate by 5% can increase your profitability by 25 to 125%.
(Leading on the Edge of Chaos, Emmet Murphy and Mark Murphy)
3. 62% of organizations view customer experience provided through contact centers as a competitive differentiator.
(Deloitte: Contact Center Survey)
4. 51% of companies increased the staffing of their centralized customer experience team in 2014. (Temkin Group)
5. By 2020, customer experience will overtake price and product as the key brand differentiator. (Customers 2020 Report)
6. 70% of customers will do business with you again if you resolve their complaints. (Ruby Newell-Legner)
7. Only 14% of respondents in a 2014 survey of CMOs rated the customer-centricity of their organization as high; and only 11% believe their customers would say the same. (2014 CMO Council Mastering Adaptive Customer Engagements Report)
8. 65% of 1,000 consumers surveyed said they’ve cut ties with a brand over a single poor customer service experience. (2014 Parature State of Multichannel Customer Service Survey)
9. 92% of companies surveyed reported a decline in customer satisfaction; consumers were most disappointed by inconsistent service. (Salesforce.com)
10. The probability of selling to an existing customer is 60-70% while it falls to just 5-20% for new prospects. (Forbes)
12. 60M hours a year are wasted on hold with call centers. (Fonolo)