Preventing Customer Churn Through One Simple Act [Infographic]

Brian Wallace — October 5, 2018 Follow @nowsourcing

— October 5, 2018

Customers expect high quality service when they interact with their suppliers, and why shouldn’t they? Among customers that switch vendors, 66% do so because of high prices, rates, and fees and 32% because of serious problems with services, like mistakes or failures. Above all, the key to retaining customers is to make them feel valued. Your business wouldn’t even exist if not for individuals willing to buy your products and services, and all your customers really want is to be heard.

Customer loyalty is a tricky thing. Over 40% of consumers say they have no plans to change any supplier in the next twelve months, and yet 82% of customers have changed at least one supplier in the past five years. Banks, cell phone services, and insurance companies are among the top most likely to see a high customer turnover rate.

One of the best ways to bolster this success rate is to invest in customer service options to reach consumers on their terms. Though phone correspondence remains the top preferred method of supplier contact, 42% of customers have reached out to suppliers through channels other than phone. Online chats are growing in popularity and among customer feedback, 57% are happy with the results and mechanics of live online chat options. As far as interactions between consumer and supplier go, customers expect representatives to understand where they are coming from. This takes the form of call center agents knowing a consumer’s service history, being proactive in informing consumers about problems and offering options to resolve them, and even keeping the call center within the home country are among the top features consumers look for.

A business’s consumer base is an asset. Don’t waste it. Give them the best service to keep them sticking around. Take a look at this infographic for more on consumer concerns, how to keep your customers happy, and how you can make or break your customer loyalty rates.

Infographic Source: CallMiner

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