It goes without saying that effective handling of complaints and good customer service has always been important. Given the rise of social media and review sites, we now have a wide choice of tools and channels to immediately call out poor service and ineffective complaint handling and share that message wide and far. But what is the complaint impact cost?
Do you know the true cost of unhappy customers?
You also need to consider the cost of churn.
Here are a few headline stats:
- Attracting a new customer is 6-7 times more expensive than retaining a current one (Salesforce).
- Increasing customer retention rates by 5% increases profits by 25% to 95% (Harvard Business School).
- One-third of consumers say they would consider switching companies after just one instance of bad customer service (American Express).
- A customer experience promoter has a lifetime value to a company that’s 600 to 1,400% that of a detractor (Bain).
Effective complaint handling
Quick and effective complaint handling will help you turn customer complainers into brand advocates, helping to increase brand loyalty and your company’s reputation.
Even the most vocal and complex complaints handled well, will see your customer advocacy increase across the board. By helping customers and solving their complaints, you will increase affinity which helps drive profitable brand growth.
Brand advocates are not just loyal, your brand advocates will do the job of promoting your business for you and drive reputation, which in turn can help drive revenue.
How we can help
At QASSS, we have many years of experience in complaint handling and dispute resolution and we understand just how critical good complaint handling is to the home improvement sector.
To find out how we can help, contact us on 0161 676 0919 or email [email protected]