If you’d like to charge more for your company’s products or services, the key may be to offer better customer service. A new survey finds 85 percent of consumers would pay more to guarantee they received excellent customer service.
It also revealed three main reasons consumers stop doing business with companies:
- Rude staff
- Issues weren’t resolved quickly
- Unknowledgeable staff
More than four-fifths of consumers have quit doing business with a company as a result of a negative experience, and three-quarters of them never return, according to the fifth annual Customer Experience Report, released this week.
To improve consumers’ experiences, the report suggests, businesses must provide friendly, knowledgeable support and resolve issues in a timely manner.
“This year’s report not only demonstrates the financial impact of a negative customer experience, but the real value of positive customer experiences,” said Greg Gianforte, CEO of RightNow, which released the study this week.
“By focusing on delivering exceptional experiences, businesses have the opportunity to grow their customer base, improve brand loyalty and increase overall revenue.”
Other highlights of the report, which surveyed more than 2,200 adults:
- 55 percent of consumers became customers of a company based on its reputation for great customer service.
- 40 percent have switched to a competitive brand simply because of its reputation for exceptional service.
- 76 percent said word of mouth is the number one influence on purchasing decisions.
- 79 percent that have had a negative experience with an organization told others about it, and 97 percent chose to share their experience via word of mouth.
- 85 percent wanted to warn others about the pitfalls of doing business with that company and 66 percent wanted to discourage others from buying from that company.
Customer service is still the No. 1 reason consumers recommend a business, more than products or price, the survey showed.