You probably already know that good customer care on social media is crucial to any business. It can boost your brand and drive business value.
- Worldwide, businesses lose over $338 billion every year due to poor customer service. 41% of customers who have a very negative experience will spend less with the company.
- 67% list bad customer experience as their primary reason for churning, and 89% choose to do business with a competitor following a poor customer experience.
- 75% will do repeat business after a positive experience, 69% will recommend the company to others and 50% will use the business more frequently.
- Customers who had the best experience spend 140% more than those with the poorest one.
- Increasing your customer retention rate by 5% can quadruple your business profits, and 84% of companies that work on improving customer service also see an increase in revenue.
Social media is the preferred support channel today
Social media is becoming the key customer service channel. If you are being responsive it will pay off and being unresponsive will cost. Customer service on social impacts your bottom line. So make sure you do it correctly. Read more in the blog post 6 ways customer care on social can drive business value or download the guide below.