Further, according to a Harris Interactive survey conducted for RightNow Technologies*, 40% began purchasing from a competitive brand simply because of their reputation for great customer service. When disgruntled, people are also voicing their opinions.
This can have a severe impact on a company’s reputation and ultimately bottom line. Imagine the result of 66% of a company’s frustrated customers on a mission to discourage others from buying from that company.
Do you know why we do that? Why 79% of the people who have a negative experience with a brand tell everyone who'll hear them? We want to be helpful to our networks, that's why.
From the report:
- 85% wanted to warn others about the pitfalls of doing business with that company
- 66% wanted to discourage others from buying from that company
- 55% wanted to vent anger or disappointment
- 24% wanted to see if the company would take action to resolve their issue
However, there is some hope that with action, things can improve considerably. 92% of consumers said they would be willing to go back to a company after a negative experience if they:
- Received a follow up apology/correction from a supervisor/head office (63%)
- Were offered a discount (52%)
- Or were offered proof of enhanced customer service (49%)
This is also what I found from analyzing conversations that occurred during a crisis in social media. People expect that companies are listening. Whether those organizations are active in social media or not, they expect to receive a response.
58% of survey respondents said they would like the company to respond if they left a comment on a social networking site like Facebook or Twitter. What is the time frame for that response?
- 42% expect a response within a day
- 39% within a week
- 7% within an hour
- 2% within a minute
But only 22% of those who actually did leave a comment on a social networking site got a response. How many organizations Facebook pages have you seen where comments go unanswered? This in sales parlance means leaving money on the table. See how much in this chart from the report:
For example, RightNow calculated that the US airline industry could make an additional $10.6 billion in revenue this year if they could guarantee a superior customer experience [based upon US Airline revenue by the BTS]. This is a game-changing proposition in an industry that many of us have lost any hope will recover.
This report joins the growing body of evidence that the biggest impact an organization can have on its bottom line comes from satisfied customers. We choose where we buy and how much we're willing to pay based upon the experience we have dealing with a company.
The biggest impact we have is in our willingness to refer that brand, product or service to our network.
* Data from the 2010 Customer Experience Report developed by compiling the results of a survey conducted online within the United States between June 30-July 2, 2010 among 2,217 adults (aged 18 and over) by Harris Interactive on behalf of RightNow Technologies.