Customer Service Facts
- 68% of customer defection takes place because customers feel poorly treated. (Source: TARP)
- It can cost five times more to buy new customers than retain
existing ones. (Source: TARP)
- Reducing customer defections can boost profits by 25-85%. In 73% of cases, the organization made no attempt to persuade dissatisfied customers to stay; even though 35% said that a simple apology would have prevented them from moving to the competition. (Source: NOP)
1% cut in customer service problems could generate an extra £16m in profits for a medium-sized company over 5 years.