Is your complaints experience creating an iceberg of discontent?!

Wednesday Wisdom!

There are many different stats quoted about the number of customers that feel they have to make a complaint to a company. This is usually based against the number of transactions as it is difficult to gauge the number of discontent customers who don’t share this feeling. I have seen a range of between 1% and 5% of customer complaints to transactions. However, without doubt companies who don’t manage their customer complaints experience are creating an iceberg of discontent.

The number of customers who bother to raise a complaint will be tiny compared to the volume of customers who just walk or worse still, share their experience on social media. There will be a degree of tolerance and some brands will find they have greater goodwill than others, however, abuse this and it will not last – no matter how good the product or solution may be!

Companies need to review the number of times the same customer returns and the frequency with which they spend with them to understand the lifetime value of the customer relationship. Beyond transactions looking at how the long-term relationship develops will change your view on managing every customer experience.

#CX #Customerexperience #CXstrategy #CustomerService #paradigmcx #CXPA #CXCares #ChamberMK

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