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The True Cost of Losing a Customer

BlueOcean

Listen to the audio via our podcast here: One negative customer experience may seem like a drop in the ocean of all your shopper interactions, but it’s never that simple. Calculating Lifetime Customer Value Obviously, the full impact of losing customers isn’t as simple as the loss of one particular sale or the associated make-good.

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40 Customer Retention Statistics You Need to Know

GetFeedback

Great customer experience is a major competitive advantage that drives new sales—and it’s predicted to overtake price and product as the primary brand differentiator for B2B sales by 2020. Customer retention statistics: More than 6 in 10 U.S. 42% of respondents have left a business due to poor customer service. (

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The Tale of Apex Gadgets: A Cautionary Tale of Ignoring Customer Experience

ECXO

Customers were starting to complain about poor customer service, confusing user manuals, and the lack of durability in newer products. Sales of the ApexSmart 5000 plummeted. The company dismissed it as a fluke, blaming overly picky customers. Action: Regularly review customer satisfaction metrics (e.g.,

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The True Cost of Losing a Customer

BlueOcean

One negative customer experience may seem like a drop in the ocean of all your customer interactions, but it’s never that simple. Calculating Lifetime Customer Value. Obviously, the cost of losing a customer isn’t as simple as the loss of one particular sale or the associated make-good.

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The Story of Jose – A Tale About Customer Experience

ECXO

He even ended up helping them debug it himself, staying up all night, fueled by his love for his customers and copious amounts of coffee. Another time, he had to mediate between a frustrated customer and an indifferent sales representative who had sold the customer a product that didn’t meet their needs.

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Everything you need to know about the consumer of 2017

Vonage

Half of consumers move on after poor customer service. In NewVoiceMedia’s whitepaper, Serial Switchers Strike Again , we learned that 49 percent of consumers switch companies after receiving service that does not meet their expectations. Poor customer service costs business billions annually.

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The Real Cost of Losing Customers due to Poor Customer Service (Infographic)

Provide Support

The cost of losing customers differs wildly between businesses, but it gets even higher if a customer is lost due to poor customer service experiences. No doubt, customer service has a long-term impact on buying decisions, with customers continuing to avoid companies years after the initial negative interaction.