Business Management

Customer Service: The Key to More Revenue, Repeat Customers, and Effective Word-of-Mouth Advertising

Provided by Sharpen

Category Business Management

Type White Paper

Publish Date June 27 2016


Companies are beginning to shift their focus toward improving the customer experience in an effort to keep current customers loyal to their brand and attract new business. On average, loyal customers are worth up to 10 times as much as their first purchase, and a 2% increase in customer retention has the same effect as decreasing costs by 10%. As for potential customers, 70% cite poor customer service as a reason for not buying from a brand. Customer service was once considered an expense, but in this changing economy, customer service is proving to be the best investment a company can make.

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