Customer Service Can Make or Break Your Company

March 30, 2016

4:03 pm

Online shopping is stressful. There are dozens of things that can go wrong before you even get your hands on a purchase. What if you ordered the wrong size? What if the color doesn’t match your style? What if you put in the wrong address and your order’s going to be delivered to your ex? Luckily, most companies are making customer service a priority and, in the digital age, they better.

As e-commerce websites remain the obvious choice for purchasing almost anything, customer service has become more important than ever. Studies have shown that 66 percent of customers will spend more money with companies that provide quality customer service. In addition, 60 percent of customers have abandoned transactions because of a bad experience. In a world of online shopping uncertainty, customers need to be reassured and assisted by representatives that are present, helpful, and human.

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Some customers are so desperate for a human response that they have taken to social media for their customer service needs.  In fact, nearly one-third of US consumers are likely to use Facebook for customer service needs while Twitter and Youtube combine for 25 percent of all queries. Unfortunately for some companies, this volume of requests combined with the inherently suspect nature of social media creates a perfect storm of unanswered problems and frustrated customers. This has prompted nearly 50 percent of US consumers to stop or lessen their contact with customer service through social media in the last year.

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“But how much does poor customer service really affect the bottom line?” A lot. Between abandoned transactions and limited spending, companies that don’t keep customers happy are leaving approximately $83 billion in revenue on the table. Plus, negative reviews are weighted 12 to 1 against positive reviews. So, if you are in a hole now, getting back on your customers’ good sides might prove much more difficult than you think.

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Conor is a writer, comedian and world-renowned sweetheart. As the Senior Writer at Tech.Co, he’s written about everything from Kickstarter campaigns and budding startups to tech titans and innovative technologies. His background in stand-up comedy made him the perfect person to host Startup Night at SXSW and the Funding Q&A at Innovate! and Celebrate, posing questions to notable tech minds from around the world. In his spare time, he thinks about how to properly pronounce the word "colloquially." Conor is the Senior Writer at Tech.Co. You can email him at conor@tech.co.

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