A superior Customer Service department is a vital part of any company. Good customer service should work to increase client retention and client satisfaction. It is a well-known truth that you are more likely to upsell or sell a new product to an existing customer over a new customer.
Any customer service activity has been labeled as a cost center. However, we disagree with this assessment. Let’s look at some statistics:
- According to the Accenture Global Customer Report: The main reason for customer loss is poor quality of customer service.
- Bain and Company says that customers are four times more likely to leave your company and hire a competitor’s service if the problem they are encountering is service-related, rather than price or product-related.
- The White House Office of Consumer Affairs states that a dissatisfied customer will tell 9-15 people about their poor experience. A happy customer will only tell 4-8 people about their satisfactory experience.
- Emmet & Mark Murphy’s book The Leading Edge of Chaos states that increasing your customer retention by 2 percent has the same effect as decreasing costs by 10 percent.
All of these statistics demonstrate that excellent customer service leads to an escalation of customer retention and increased sales with existing customers. This indicates that customer service is more than just a cost center with which a company is burdened. Customer service teams help cut costs for a business by retaining clients. Additionally, good customer service provides satisfied customers who can be upsold or who will share excellent reviews about your business.
Customer service also provides an excellent platform for free data gathering. Not only can you discover glitches in your own product, customers provide information about their needs during a customer service conversation that they may not share with a salesperson. This information can be logged and reviewed for an upsale after the complaint is sorted out and the customer is happy.
Quality customer service is imperative to a well-run company with a loyal customer base. AGR Customer Service provides energy companies with an excellent and well-trained customer service center. Our mission is to partner with your company and help it grow. Contact us today to find out how we can change your customer service set up from a cost center to a profit center.