💡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.