For companies today, differentiating oneself from the competition has become less about who offers the most competitive price, and more about delivering on a brand identity and quality of service that helps them stand out from the pack.
But to understand how to deliver a stellar service, it’s critical that businesses first understand the benchmarks in the industry when it comes to service—what your customers expect, and how they expect you to deliver on that.
In our latest Report, 25 Customer Service Benchmarks You Need To Know To Grow Your Business, we’ve collected all the key statistics around the customer experience into one encompassing report, including:
- The base expectations of consumers today when it comes to the customer experience
- The financial case for investing in your customer service and support
- Consumer perceptions of the best (and worst) performing industries when it comes to customer service, and
- The brands consumers believe are delivering when it comes to customer service
What Your Customers Want
Customer expectations are higher than ever before—and as companies continue to step up their game, we expect this trend to continue its upward trend.
Customers today want the brands they buy from to know who they are—in fact 75% are more likely to purchase from a brand that provides recommendations tailored to their needs.
And they’re willing to pay more for it—with 28% of consumers say they’d pay more for service that’s personalized to them.
The ROI of Great Customer Service
As they say, you get what you put into something. And when it comes to customer service, it seems that you get that, and a whole lot more.
Even a modest increase in investment in customer service can yield exponential results—if a company with $1 billion in annual revenues increases investment in their customer experience by even a moderate amount, it generates an average revenue increase of $775 million over three years.
Word of mouth (or reference marketing) is your best advertising spend—only 8% of consumers turn to advertising as a source when making purchase decisions.
A Look at The Landscape
See where your industry stacks up in the eyes of your customers in the full Report, but here’s a sneak peek: surprisingly, Retail doesn’t nab the expected first spot, though it does come in for a podium finish at third place.
We’ve only skimmed the surface of the 25 Customer Service Benchmarks You Need To Know To Grow Your Business. For more, download the full Report.
Your customers are talking—Are you listening?
Get the 2019 Customer Expectations Report to see what it is your customers want from customer service.Download the Report