‘Customer is King’ has been the mantra for successful firms, but there is more to it in the age of quick communications and social media. If a survey by global banking major American Express is any indication, the saying needs to be tweaked to read ‘Customer Service is King’.
Reason? Well, the America Express research survey “2012 Global Customer Service Barometer” spells out the importance of customer services and its role to rope in potential Indian customers for a company. The findings say over the past one year, close to 71% consumers walked out of a business transaction mainly on account of poor customer service experience. Importantly, consumers do not sit back after a bad service experience, rather they share it with others.
“When it comes to poor customer service experiences, 86% of consumers talk about them,” said the report and added that good service experiences are also talked about where around 97% of those surveyed admitted to sharing good experiences with others.
Consumers willing to spend more for excellent service have no preference between small and large companies. “Around 80% agree that small, independently or locally owned businesses provide a more personal customer service experience,” the report said.
{{/usCountry}}Consumers willing to spend more for excellent service have no preference between small and large companies. “Around 80% agree that small, independently or locally owned businesses provide a more personal customer service experience,” the report said.
{{/usCountry}}The online research report was conducted with a random selection of 1,007 consumers above the age of 18.
Nearly two-third of consumers believe businesses are paying more attention to customer service expectations and in fact meet them. A little over two-third consumers said companies have reduced the hold-up time for a customer service phone calls.
The survey said for around 54% consumers, social media is a common channel to seek a customer service response. “Those who have used social media... have done so for a variety of reasons such as sharing information about their experience with a broader audience and seeking recommendations from others…” the report said.