Nowadays, brands are more eager to provide a class-apart customer service experience to their clientele to stand out from competitors. To stay ahead of this crowded market, customer support needs to be constantly monitored and improved.
Professional and top-notch customer service is a crucial aspect of every business to be successful in the long term. Thanks to excellent customer service, companies can manage to retain existing customers, thus enjoying all the benefits that this implies. Existing consumers are likely to spend 300% more on your business compared to new customers, resulting in lower operational expenses for your company with higher profit. Also, cultivating a loyal customer base will bring steady cash flow and better word-of-mouth publicity.
Providing exceptional customer support is no longer an option but a prerequisite. Fortune Business Insights estimates the global customer experience management market at $11.34 billion in 2022. This is a whopping 12.2% growth from $10.11 billion in 2021 and is anticipated to reach $32.53 billion by 2029 at a CAGR of 16.2%.
Managing a company's customer support endeavor is not easy, and it requires various statistics to analyze what is going well and what must be stopped right then. A successful company will always rely on the best customer support statistics to build outstanding strategies for growth. Let us understand the importance of customer support and its effect on a company's success.
Why is customer support important for a company's success?
Every company that wants to succeed and be in the market for a long time must pay attention to the importance of customer support statistics. A brand's market value can be measured in terms of loyal and happy customers. Happy customers help a company grow with word-of-mouth advertising and numerous repurchases. One way to do this is by providing a great post-sales experience.
For example, Hubspot says 68% of customers are interested in paying more for products and services to a brand they know is good at providing customer experience. Once a company makes a good impression on its customer base, it is easy for the customers to return.
On the flip side, there is a cost of poor customer support that a company has to pay. For example, around 61% of customers will switch to your competitors even if they go through only one bad customer support experience. A high-quality product is never enough to be successful in the market because nobody wants to purchase products with below satisfactory or average post-sales experience.
8 Most important statistics
Are you wondering which customer support statistics you should measure and how frequently? Most companies review their statistics quarterly, while some KPIs give better results over time and can be measured annually.
Read below to learn more about the most important customer engagement statistics that can influence your strategy for an effective post-sales experience.
1. The cost of poor customer service
Undoubtedly, good customer service can help your business in various ways. But what happens when customer support doesn't go well as you planned? Your success depends on good customer support services. Likewise, your business will cripple if the customer service is a failure.
Let's take some instances of the best customer support statistics to comprehend the matter more.
-According to Ruby Newell-Legners, 12 positive customer experiences are necessary to compensate for 1 negative experience. This means there will be hefty responsibility if your team fails to satiate your customers even for once.
-Technology giant Microsoft thinks 58% of American consumers will likely take service from other companies if they experience poor customer service. More than 50 people in a group of 100 customers will go to other service providers who are good at customer service.
-According to Glance's report, 78% of customers will restrain themselves from purchasing your item due to poor customer experience.
2. The benefits of caring about your customers
If implemented effectively, customer service can help your company to reach significative perfromance improvement. First, having a good customer service will increase the profitability of your sales funnel. When your customer service team manage to makes customers happy, they will more easily convince customers to purchase your products and earn you revenue after every successful sale.
Second, good customer care increases customer satisfaction with the product and the overall experience with your brand. This will create incentive for existing customers to re-purchase from you and spread word-of-mouth among family and friends. This will overall increase your sales. When customers are satisfied with the experience, they will likely become loyal, thus increasing your retention rate.
Let's explore the customer support statistics to comprehend how good customer support can improve your overall performance.
-Salesforce Research found that 89 out of 100 customers will make another purchase after a positive customer service experience. So if you want to offer value for money, ensure your customers are not dissatisfied.
-Another statistic from Hubspot shows how happy customers are blessings for a company's growth. 93% of customers will make other purchases with brands that offer brilliant customer service.
-One of the best customer support statistics says 5% increased customer retention rates can augment the overall profit between 25-95%. A happy customer will likely stay with your company for a long time. They will spread your company's reputation to other customers and influence them to buy your products.
3. The power of word of mouth
Word of mouth is an effective marketing tool for any brand. Your target customers trust their friends and family. Sometimes word of mouth can work even better than your paid marketing efforts.
-According to Neilsen's report, 92% of consumers trust recommendations from friends and family rather than advertisements. Interestingly, word of mouth is ever-increasing and never stops unless your team fails considerably. Let's check some more statistics on the power of word of mouth.
-CFI Group found that 36% of customers share their customer service experience on social media. The power of social media is not unknown to us; it can literally ruin or make your brand's image.
-Bright Local surveyed that 87% of customers are likely to check online reviews before purchasing a product.
-If your customers are happy with your services, 72% of them will tell their experience to others.
-13% of unhappy customers will share their negative experiences with 15 or more people. On the other hand, 72% of customers will share their satisfactory experience with six or more people. Hence it is pretty clear that even one negative experience can cost you a bad reputation and lose customers dramatically.
4. The importance of personalization
According to Paul Greenberg, "If a customer likes you and continues to like you, they will continue to do business with you. If they don't, they won't."
Obviously, you will get support from your customers if they appreciate your effort. If you can make your customer feel welcomed, understood, and cared for, your company will flourish every time. It would help to educate yourself about your customers' backgrounds and interests, so that you can offer more suitable customer support and learn how to best resolve their issues through your customer support team.
Here are some important customer support statistics you need to support your company's growth.
-According to Salesforce Research, consumers want firms to understand their specific requirements and expectations in 63 percent of cases, and B2B purchasers in 76 percent of cases. This means your customer support strategy should be built on understanding their interests.
-Trust Pilot says when you integrate tailored experiences for your customers, your online conversion rate has the potential to increase by around 8 percent. These customer satisfaction statistics showcase your customer satisfaction is directly linked to your overall sales.
-80% of customers think a company's experience with them is equally significant as its goods or services. So, product quality alone will not save your business in the long run. You also need to make sure your customers have an excellent experience each time they knock on your door.
5. The effectiveness of different support channels (chat, social media )
Not every time your customers will call your customer service team to ask for support. Many customers prefer to resolve issues autonomously. There are various ways to support your customer to have a better experience with your services, such as phone, chat, email, or social media.
Each support channel has its pros and cons, so you should use various ways to connect with them instead of focusing on one channel. Here are the best customer support statistics that you should consider:
-CFI Group presented data that shows that 76% of customers prefer traditional phone calls over mail and other channels to connect with customer service representatives. It does not mean you should only provide phone call support to your customers. You need to extend your help using other supportive channels for communication.
-On the other hand, Salesforce says 78% of customers prefer to use text messages for communication. And some customers may choose mobile apps, and 82% of customers use mobile apps to get in touch with the service team.
6. The predominance of self-service resources
Some customers prefer self-service resources as connecting with your team saves time and effort. You need to have enough resources to upload to the knowledge base. The knowledge base you provide must be accessible and full of relevant information. Help docs are at their best when they serve the actual needs of your customers.
Let's learn the best customer support statistics and how they impact your company's overall performance.
-Zendesk says that even though 69% of consumers try to solve their issues independently, less than one-third of firms provide self-service options like a knowledge base. Many customers are shy to talk about their problems and have a conversation with the service team. They choose to stay in their comfort zone if there is an abundant source of knowledge available on the website.
-However, if the information about your products is hard to find, 28% of customers report it as the most frustrating issue. This frustration may lead these customers to switch to other service providers with good self-service customer support.
7. The importance of training your support team
Your customer support team can only perform well if they are well trained. Your personnel should be prepared to deal with angry customers and try to get them back, meaning convert them into purchasing your product again. Here you can find some important statistics.
-33% of customers find waiting on hold and having to repeat themselves to several support workers to be the two things that irritate them the most. In these situations, a well prepared representative can talk to the customer so that he understands why there were delays or problems. Also, companies should remember not to hold a customer for a long time.
-Ineffective customer service is the most significant source of annoyance for 27% of Americans. If you fail to pay attention to this vital issue, there will be disastrous consequences for your company.
8. Dealing with customers' emotions is essential
Effective communication with customers will build a trusting relationship that customers will hardly leave. No matter how hard you try to improve the quality of your product to impress your customers. It will not work if you lack an understanding of your customer's feelings and emotions. You also need to understand why a customer will buy your product and the reasons behind that decision. Emotion plays a crucial role for a brand to perform well.
Here is a very interesting statistic that could be interesting for you to know. Customers who have an emotional connection to a brand are more inclined to suggest it at a rate of 71%. The most impactful marketing tactic that every company should master is creating emotional relationships with clients. Creating this bond with customers is a way for brands to quickly expand their businesses.
How can Layerise help your business improve customer service?
Layerise provides you with a post-sales B2C enablement tool allowing you to offer an excellent experience to your customers. Layerise solution combines all the newest trends to help you stay ahead of the curve and gain a competitive position in the market thanks to excellent customer support.
With Layerise you can provide your customers with interactive and engaging instructional content, exceptional self-service support tools, a high level of personalization of services, and real-time 24/7 support through the chat feature.
On top of a great customer experience, Layerise allows you to collect relevant data about your customers to design the best marketing strategy for your product. Thanks to Layerise you can build automated marketing campaigns based on your audience and make your send-outs personal and relevant to increase conversions.
If you want to learn more about how Layerise can help your business, book a free demo now!
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