What is the Return on Investment for Customer Service?
They say that each person who has a bad experience tells 11 to 20 people, and then they tell 5 people. That’s a lot of people. This is in stark contrast to happy clients who on average only tell 5 to 7 people about a positive experience.
So, do the math. In essence, you have to really WOW a customer to preemptively combat any negative responses you may receive.
On average, it costs 5x more (sometimes as high as 7x) to acquire a new customer than it does to keep an old one. This statistic alone gives justification to spending time, money, and resources to insure a positive customer experience continuously with current customers.
Sincerely,
