Poor Customer Service Will Cost Companies More than $1 Trillion.

Posted by Jamasen Rodriguez on 6/12/17

CustomerExperienceAsset2.pngDon't be a statistic. Poor customer service costs your organization a lot of cash. So much so that based on research done by Accenture, 52% of consumers have switched service providers in the past year due to poor customer service.  This shows that if your organization doesn't provide a great customer experience, customers will leave for your competitors. This "service hopping" will end up costing companies $1.6 trillion!

Let's not forget that today's consumers are more connected than ever and have grown to expect the instant response as standard. This is why impeccable customer service has moved from being a cost center to being a key differentiator. Your organization needs to think about transformational ways to improve upon your customer service.

Simply having a self-service help center and 24 hour response times are no longer good enough.

Contact centers are primarily focused around phone interactions, data is not connected to other parts of the company, and agents don’t have the tools they need to deliver the service customers expect. Therefore, customers find your agents unhelpful, being constantly redirected to multiple agents, and simply don't get the answers they need to solve their problem.

Customer advocacy is key to promoting and growing a company’s brand. Unfortunately, service leaders still believe that great service costs too much. Truthfully, it costs less to provide helpful answers and prevent issues that push customers to leave.

Also, as you well know, it's far more expensive to acquire a new customer than to keep a current one. Roughly six to seven times in fact. So even a small investment in a great customer experience will pay off.

Although today's customers expect quick self-service options, 83% of U.S. customers prefer speaking or messaging a human. The primary reason, expecting a remarkable customer experience — not just a new channel of interaction. This is where artificial intelligence can prove useful as a key differentiator by providing quick and helpful solutions. Your organization needs to accommodate today's fickle customers. Artificial intelligence can offer a remarkable customer experience at a lower cost, increase customer happiness, all while giving them the level of help they deserve.

Topics: Customer Experience, Artificial Intelligence