I have been working all day on a content marketing and social media marketing document.
I was thinking about a way to say why it’s important to offer people a choice of ways to connect with a business.
Choice is so important but it’s also a necessity: if your business only uses a few interaction channels (I avoid communication channels on purpose), you just don’t connect with everyone and you’re not there where your customers, prospects or brand lovers are.
It’s simple mathematics.
The research firm Greenfield Online and Datamonitor/Ovum released a study last week, “The Cost of Poor Customer Service,” that estimated the amount of money lost by U.S. firms due to poor customer service. They estimated the cost to be $83 billion per year. 61% of the time, the lost money goes directly to a competitor.
71 percent of consumers interviewed said that they had ended a business relationship due to poor customer service. In terms of industries, as would be expected, the greatest churn occurs in cable/satellite, financial services and consumer products.