Member Article

Leaving customers on hold - Negative impact on business

Here at Virtual VIP, we have created a graphic which illustrates the harm caused to your business when you leave customers on hold for too long. Customers on hold will, on average, hang up after reaching a boiling point of thirteen minutes. After that, there’s a good chance they’ll ditch your business for your competitor.

Here are some other statistics featured on the graphic:

• Price is not the main reason customers switch to different companies. It’s mainly due to the poor quality of customer service. In fact, customers are four times more likely to switch as a result of poor customer service than because of anything price or product related.
• For every customer complaint you get, there are on average twenty-six other unhappy customers. The vast majority will never make a complaint – they’ll simply leave and never come back.
• Most of a customer’s buying experiences are based on how they believe they’ve been treated and how valued they feel.
• A dissatisfied customer will tell between nine and twenty people about their negative experience.
• It costs a business six to seven times more money to get new customers than to keep existing ones. A business is sixty to seventy percent more likely to sell to an existing customer.

http://www.virtualvip.co.uk/time-hold-money/

This was posted in Bdaily's Members' News section by Lee Buchan .