Skip to main content

WHAT'S DRIVING YOUR BUSINESS

 

Business Drivers

Business Drivers

 • Customer Service expectations are almost 20% higher than just 12 months ago and almost 40% higher than 5 years ago.

• Almost 60% of customers state that their customer service expectations are rarely, or only sometimes, being met.

• 86% of consumers never go back to doing business with a company if they had a bad customer experience. This is up 17% from 4 years ago.

• The average company loses 10% of its customers each year.

• It is 2 to 20 times as expensive to get a new customer as to retain an existing one.

• A 5% point shift in customer retention consistently results in a 25-100% profit swing.

• People with disabilities account for an estimated $25 billion in consumer spending annually and influence the spending decisions of 12 to 15 million other consumers in Canada.

 

Customer Drivers

Customer Drivers

• 60% of people say customer service is the number one factor, ahead of price, in selecting a service provider.

• On average customers give service performance a "D" grade. Poor service quality is the leading reason why customers decide to leave a provider.

• 82% of customers tell others about bad customer service experiences.

• 80% of customers use information from family, friends and acquaintances to choose new service providers.

• The top characteristics associated with poor service are: Inability to resolve questions or problems (46%); Beings difficult to reach (38%);Needing to deal with multiple people to resolve problems (37%); Lack of product knowledge (34%); and Unprofessional demeanour (33%).

• 95% of customers will purchase again if a problem is resolved quickly. The repurchase rate drops to 46% if the complaint is not resolved.