Better Customer Service Leads to High Customer Retention

Solomon Thimothy - April 28, 2010

According to a study by Aberdeen Group and VeraCentra, companies with better customer service and efficiency will lead to more repeat business from established customers.

“Best-in-Class” companies had a 91% customer retention rate and increased their net client value by 6%. Companies in the bottom 30% only had a 62% customer retention rate and their net client value decreased by 9%.

One of the main characteristics of Best-in-Class companies is that 80% of them capture customer history regularly and make it visible to all customer-facing staff. By constantly gathering information on customers, they can improve their customer service and continue to please their customer. This will help increase their return rate. Also, 72% of Best-in-Class companies monitor their customer satisfaction on a regular basis.

Companies that have a larger view of customer data will be able to provide better customer service and efficiency. This will lead to increased loyalty from customers and repeat customers.

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