The cost of losing customers differs wildly between businesses, but it gets even higher if a customer is lost due to poor customer service experiences. No doubt, customer service has a long-term impact on buying decisions, with customers continuing to avoid companies years after the initial negative interaction.
But what’s more, social media and online review websites enable bad service stories to be shared not only with family, friends or colleagues, but also with the general public affecting other potential customers. Which definitely means future lost sales for businesses, because:
- 95% of customers share bad experiences with others, 54% share bad experiences with 5+ people, 45% share negative reviews on social media;
- 63% of consumers read negative reviews on social media;
- 88% of customers trust online reviews as much as they trust friends;
- A single negative online review can cost the average business an average loss of 30 customers.