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New research from NewVoiceMedia, a global provider of cloud technology, which helps businesses sell more, serve better and grow faster, reveals that UK companies are losing £11 billion a year due to poor customer service.
Since NewVoiceMedia’s initial 2013 survey, the number of UK consumers who report leaving a business due to inadequate customer experiences has actually decreased, from 50 percent to 42 percent. However, the top reasons given for leaving were consistent with the previous study and included: feeling unappreciated (44 percent), unhelpful/rude staff (35 percent), being passed around to multiple people (33 percent), not being able to get answers (27 percent), being fed up of queuing (27 percent) and not being able to speak to a person (25 percent).
"With revenue being transferred between companies at an alarming rate, this research highlights the considerable impact that customers have on a business’s success", said Jonathan Gale, CEO of NewVoiceMedia. "Customer experience is the key differentiator, and by doing it well, organisations can drive the customer acquisition, retention and efficiency that make leading companies successful".
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• Nancy Jamison, principal analyst at Frost & Sullivan, commented, "Today's consumers want consistent, personalised and proactive customer service, not silo'd interactions. Change the journey and you change your win and retention rate".
• Blair Pleasant, president and principal analyst at COMMfusion LLC, said, "Social media can be a double-edged sword – it can be an easy and efficient way for consumers to get customer care, but it can also become an open forum for discontentment".
• Micah Solomon, author, speaker and customer experience consultant, commented, "Through every demographic slice, good service is one of the clearest predictors of customer loyalty, willingness to recommend, and hesitancy to switch. And in our easy-to-switch reality, it is one of companies' most important weapons to achieve these all-important goals".
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Published: Monday, June 13, 2016
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