We’ve all experienced awful service. We’ve all experienced good service.
As business people, we all know – or should know- the value of excellent customer service.
How valuable is good customer service? If you improve service by just 5%, according to Bain & Company, profits can increase 25 to 90%.
So with just a little effort, training, and better hiring practices, you may be able to increase profits. Who wouldn’t want that?
In this article written for Medium, I share not just the facts about why good customer service matters, but how to achieve it without spending a fortunate on fancy loyalty programs, punch cards, free gift with purchase items and so on.
Enacting a strong customer service policy isn’t expensive, but it’s not easy. It takes thought, effort, and consistency. When it’s done well, however, it can reduce customer attrition (churn) and boost profits.
Again, I ask: Who wouldn’t want that?
Read the full article here: The Customer Pays Your Salary – Why Excellent Customer Service Is Vital for Client Retention