Businesses and consumers have a very different relationship than they did a few decades ago. Back then, what mattered most to customers were low prices and high quality. Advertisements were more product-oriented, focusing on the tangible benefits of the product and how high quality correlated with a better brand.
Nowadays, many advertisements are becoming consumer-oriented, focusing on the positive experiences that will result from a customer's use of the product. This is due to the increasing emphasis on customer experience.
While customers still care about price and quality of products, a new factor in choosing between competing brands is the additional value of customer service. Customers would rather invest more in a brand that focuses on their needs and constantly provides value beyond the initial purchase.
There are many ways to make your brand more customer-focused. Consider the following statistics on customer service to help you brainstorm new strategies for strengthening your customer service team.
31 Customer Service Stats to Know in 2019
The Importance of High-Quality Customer Service
1. 70% of the customer's journey is based on how the customer feels they are being treated. (McKinsey)
2. 90% of Americans use customer service as a factor in deciding whether or not to do business with a company. (American Express)
3. Investing in new customers is between 5 and 25 times more expensive than retaining existing ones. (Harvard Business Review)
4. 90% of customers rate an "immediate" response as important or very important when they have a customer service question. 60% of customers define "immediate" as 10 minutes or less. (HubSpot Research)
The Power of Great Customer Service
5. 73% of customers fall in love with a brand and remain loyal because of friendly customer service reps. (RightNow)
6. 68% of customers said the service rep was key to a recent positive service experience. 62% said that this was also due in part to the rep's knowledge or resourcefulness. (American Express)
7. Consumers are willing to spend 17% more on a company that has outstanding customer service. (American Express)
8. 77% of customers would recommend a brand to a friend after having a single positive experience. (Temkin Group)
9. 93% of customers are likely to make repeat purchases with companies who offer excellent customer service. (HubSpot Research)
The Cost of Poor Customer Service
10. The #1 reason customers switch to a new brand is feeling unappreciated. (New Voice Media)
11. $1.6 trillion is lost by American companies due to customers experiencing poor customer service and switching to competitors. (Accenture)