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40 Customer Retention Statistics You Need to Know

GetFeedback

Only slightly more than 10% of consumers are willing to stay on the line for over five minutes for customer service. ( Genesys ). Faced with poor customer service, 20% of consumers would complain publicly via social media. ( 42% of respondents have left a business due to poor customer service. (

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Customer Survey Statistics: Everything You Need to Know

InMoment XI

(Source: Forrester ) 40% of customers start buying from a competitor because of their reputation for great customer service. Source: Zendesk ) 55% of consumers have intended to make a purchase, but backed out because of poor customer service. Asking for Feedback via Customer Surveys Statistics.

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New Report: How Customer Loyalty has Changed Post-Pandemic, and What You Should Do About It

TechSee

Growth and customer loyalty have historically been product-led. Customers who were happy with a company’s product were loyal for years, unwilling to try alternatives. Today, there is a shift in the role customer service quality plays on customer loyalty. The stakes have never been higher.

Loyalty 109
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Crash and Churn: survey reveals the customer service fails that cause attrition

TechSee

The days of long-term customer brand loyalty to brands are over. Today, consumer stickiness is far more dependent upon people’s specific experiences and the level of service they receive. This underscores the fact that churn plagues all verticals and customer retention strategies are critical to almost every industry.

Survey 164
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Consumers Ditch Businesses Following Poor Customer Service

CSM Magazine

Brands are failing to create the positive, emotive experiences that drive customer loyalty. New research from NewVoiceMedia reveals that 42 percent of UK consumers left a business last year due to poor customer service. customer service issues (16 percent), followed by email (12 percent).

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Customer retention in the telecom industry – new thinking

TechSee

A recent study of the phenomenon of churn revealed that 39% of Americans who canceled a contract with a company in the past 24 months cited poor customer service as the primary reason. Enhancing customer retention in the telecom industry. Instead it suggests that the best way to increase loyalty is by reducing effort.

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How AI Text Analytics Enhances Customer Service: A Comprehensive Guide

Thematic

Tracking Customer Satisfaction Trends Did you know that a customer is four times more likely to switch to a competitor over a service issue than a product issue? In fact: 78% of customers have abandoned a purchase due to poor customer service.