The quality of customer service consumers experience can significantly impact a retailer’s bottom line. In fact, 66% of US consumers are willing to spend more money with a company that provides them with excellent customer service, according to Microsoft, while 60% of consumers say they have not completed an intended purchase due to a poor customer service experience.
As consumers increasingly buy products online that they haven’t seen in person — leaving room for purchasing errors and buyer’s remorse — it’s now more important than ever to provide customers with positive customer service experiences.
In BI Intelligence’s new Customer Service Report, we look at why customer service matters, which stalwart channels are still top performers, and which new channels have the most potential. We also take a look at why luxury retailers, or even just retailers with high-income consumers, need to be especially attuned to providing solid customer service help.
Here are some key takeaways from the report:
- Even a single negative customer service experience can deter potential customers from spending money with a company. 60% of US consumers have not completed an intended purchase based on a poor customer service experience. That translates into an estimated $83 billion in lost sales for US retailers.
- Negative customer service experiences loom larger than positive ones. It takes 12 positive customer experiences to negate the poor impression left behind from one unresolved, bad experience.
- Lack of effective customer service on social media seems to be spilling over into users’ willingness to interact with brands at all on the channel. Just over half of consumers plan on either not contacting or reducing their contact with brands through social media this year.
- Providing the best-quality customer service is especially important to luxury retailers, whose customers expect a personalised experience to enhance the exclusivity that comes with luxury retail. Nearly half of all luxury consumers demand an apology, refund, or incentives following a poor customer service experience.
- Traditional channels like phone and email are still preferred by consumers, but new technologies — like messaging apps and live chat — are beginning to take off.
In full, the report:
- Examines why customer service matters more for e-commerce retailers.
- Explains the consequences of both positive and negative customer service experiences for retailers.
- Compares various channels for customer service and discusses which ones perform best.
- Assesses the future of customer service for a digitally native consumer audience.
- Discusses which retailers and industries are affected most by customer service experiences.
Interested in getting the full report? Here are two ways to access it:
- Purchase & download the full report from our research store.» Purchase & Download
- Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you’ll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally.» Learn More Now
PS. Did you know…
Our BI Intelligence INSIDER Newsletters are currently read by thousands of business professionals first thing every morning. Fortune 1000 companies, startups, digital agencies, investment firms, and media conglomerates rely on these newsletters to keep atop the key trends shaping their digital landscape — whether it is mobile, digital media, e-commerce, payments, or the Internet of Things.
Our subscribers consider the INSIDER Newsletters a “daily must-read industry snapshot” and “the edge needed to succeed personally and professionally” — just to pick a few highlights from our recent customer survey.
With our full money-back guarantee, we make it easy to find out for yourself how valuable the daily insights are for your business and career. Click this link to learn all about the INSIDER Newsletters today.