25 Amazing Stats of Customer Service in 2020
25 Amazing Stats of Customer Service in 2020
The dynamics of a
relationship that is between customers and businesses have been changed
dramatically with the pace of time in the last decade. A decade ago customers
were more focused on getting products and services at a low price and of high
quality. Even the way of advertising the products and services have been
changed a lot. Previously ads were more product-oriented, emphasizing the
tangible benefits of the product and its high quality. However, now the scenario
is completely different, most of the ads today are consumer-oriented,
emphasizing the positive experiences that will result from a customer's use of
the product. Nowadays customer
experience holds more importance.
Undoubtedly
customers still look for products and services at a better price but they also
consider what sort of experience they can get out of it. They look for a brand
that can instantly meet their needs and constantly provides value beyond the
initial purchase. There are a plethora of ways to make your business more
customer-focused. Simply consider the following stats on customer service that
can help you in strengthening your customer service strategies.
1. 90% of
Americans use customer service as a factor in deciding whether or not to do
business with a company. (American Express)
2. Investing in
new customers is between 5 and 25 times more expensive than retaining existing
ones. (Invesp)
3. 49% of
American consumers switched companies last year due to poor customer service.
(New Voice Media)
4. 81% of
Americans believe that business is either meeting or exceeding their customer
service expectations. (American Express)
5. 73% of
customers fall in love with a brand and remain loyal because of friendly
customer service reps. (RightNow)
6. 68% of
customers said the service rep was key to a recent positive service experience.
62% said that this was also due in part to the rep's knowledge or
resourcefulness. (American Express)
7. Consumers are
willing to spend 17% more on a company that has outstanding customer service.
(American Express)
8. 77% of
customers would recommend a brand to a friend after having a single positive
experience. (Temkin Group)
9. The No.1
reason customers switch to a new brand is feeling unappreciated. (New Voice
Media)
10. 50% of
customers have left a brand for a competitor who was able to stay more relevant
and better satisfy their needs. (InMoment)
11. It takes 12
positive customer experiences to make up for one negative experience. (Glance)
12. 78% of customers
have backed out of purchase due to poor customer experience. (Glance)
13. 54% of
customers used email for customer service last year, making it the most used
digital channel for customer service. (Forrester)
14. Customers
prefer knowledge bases over all other self-service channels. (Forrester)
15. 79% of
American internet users are on Facebook, making it the most popular social
media platform. (Lyfe Marketing)
16. Millennials
prefer live chat for customer service over every other communication channel.
(Comm100)
17. 80% of
American customers are satisfied with the customer service currently provided
by their businesses (American Express).
18. Increasing
customer retention rates by just 5% can increase profits by between 25% and
95%. (Bain and Company)
19. Businesses
can grow revenues between 4% and 8% above their market when they prioritize
better customer service experiences. (Bain & Company)
20. 73% of
companies with "above average" customer experiences perform better
financially than their competitors. (Temkin Group)
21. 70% of the
customer's journey is based on how the customer feels they are being treated.
(McKinsey)
22. Your online
conversion rate can improve by roughly 8% when you include personalized
consumer experiences. (Trust Pilot)
23. On average,
customer service agents only ask for a customer's name 21% of the time.
(Glance)
24. 71% of
consumers (age 16 - 24) believe that a quick response from your service team
can drastically improve their customer experience. (Comm100)
25. On average,
companies that invest in their customer experience also observe an improvement
in employee engagement by roughly 20%. (Mckinsey)
