💡A tip from our friends at LTV Plus!

It’s key to focus on customer retention strategies aside from purely customer acquisition strategies!

6 out of 10 consumers say that they will stop buying from a brand and switch to a competitor after just one bad experience with customer service!

Trust from customers is a huge factor that drives the success of a brand. Since customer service is the direct line between brands and customers, providing a poorly-executed customer service strategy can lead to a brand’s downfall. If customers feel that they are let down, they will have second thoughts about doing business with that brand again.

On the other hand, an amazing customer service experience helps increase customer satisfaction, which leads to an increase in retention rate, revenue, and overall lifetime value.

All in all, be sure to invest in providing amazing customer service so you can build stronger and more meaningful relationships with your customers– the returns will be worth it.