Customer Care: How good service pays off and poor service costs you big-time

2015 • Content

Here’s a look at statistics posted throughout 2015 about consumer loyalty from three different vantage points. As an eyecare professional, it’s important to understand all three—how businesses and marketers view the challenges of customer service, how consumers themselves see what’s working and what isn’t, and how all of this impacts your bottom line.

Tip: 76% of U.S. shoppers say customer service is the ‘true test’ of how much a brand values them. You can’t expect retention if you don’t put customer service first.

82% of executives say customers’ expectations of their company are higher than 3 years ago.

The Customer

28% of consumers are loyal to their providers and brands, and 31% recommend them to others. Source: Accenture
Consumers report their biggest frustrations are the inability of a business to resolve an issue and dealing with someone who cannot provide a resolution. Source: Accenture
Of those consumers who recall a major negative customer experience in the past 10 years, only 55% of them can recall a major positive experience in that same time period. Source: SDL

The Marketer

60% of executives report it’s “difficult” to please their customers.
38% of marketers report their top challenge this year has been improving customer retention and acquisition. Source: TeraData
82% of executives surveyed say customers’ expectations of their company are higher than they were three years ago. Source: Lithium

The Bottom Line

Since 2010, there’s been a 29% increase of consumers switching among brands and providers. That has put $1.6 trillion up for grabs over the last five years. Source: Accenture
A fully engaged customer delivers a 23% premium in share of wallet over what the average consumer spends. Source: Cap Gemini
On the other hand, actively disengaged and unhappy customers who have negative feelings or spread negative word-of-mouth create a 13% decrease in revenue. Source: Cap Gemini

What Are Your Challenges?

More than three quarters of shoppers (76%) say customer service is the true test of how much a brand values them. Your practice is a brand, every bit as much as your products are…and you can’t expect retention if you don’t put service first.

While the statistics presented here reflect businesses from all areas of enterprise in the U.S., customer satisfaction…and dissatisfaction…criteria ring true across the board. Among businesses surveyed, customer retention and acquisition have definitely been their top challenges this year. What about you?

Please tell us what patient retention strategies work for you and join the conversation about customer service on our Facebook page here.

For more stats on customer loyalty as well as recent research about successful retail and marketing strategies, check out:

http://blog.accessdevelopment.com/customer-loyalty-statistics-2015-edition