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Why Bad Customer Service is Burning Your Bottom Line

We’ve all experienced bad customer service. Waiting for what seems like hours on hold just to ask a simple question, being juggled from person to person and never receiving the help we need, rude representatives making us feel like we’re wasting their time with our inquiries. However, despite the fact that we’ve all found ourselves in these situations, our patience for it is growing thin.

60% of consumers have higher expectations in regards to customer service than they did just one year ago, and 89% have stopped doing business with a company due to a bad customer experience. Not to mention, 95% of people will share about negative experiences with others, which can deter prospective customers, and encourage current customers to join them in abandoning ship.

With so many options available in most markets, people are realizing that they don’t have to put up with less than stellar service, and businesses are starting to feel the pressure. Businesses in the United States have lost $84 billion as a result of poor customer service, and $338.5 billion has been lost worldwide.

So why aren’t businesses providing better service if they know how important it is to retain their customers?

Unfortunately, 80% of businesses believe they ARE providing superior service. The problem is that only 8% of customers actually believe companies are delivering this level of service. As the saying goes, the customer is always right, and companies have to realize that their clients’ perception is the reality in which their business has to operate.

What can you do to make sure your company is providing service that exceeds your customers’ expectations?

Focus on the customer and aim to provide better interactions across multiple channels, while equipping your staff through better training and with increased awareness about the importance of service quality. This infographic from the folks at JitBit will help you understand just how important it is to embrace customer service as your company’s number one priority, and these 11 tips will help ensure your customer service isn’t adversely impacting your bottom line.

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