{"id":7769,"date":"2014-05-05T07:30:03","date_gmt":"2014-05-05T07:30:03","guid":{"rendered":"http:\/\/www.greytrix.com\/blogs\/sagecrm\/?p=7769"},"modified":"2014-05-05T07:30:03","modified_gmt":"2014-05-05T07:30:03","slug":"customer-retention-the-forgotten-domain-part-i","status":"publish","type":"post","link":"https:\/\/www.greytrix.com\/blogs\/sagecrm\/2014\/05\/05\/customer-retention-the-forgotten-domain-part-i\/","title":{"rendered":"Customer Retention: The forgotten domain?  Part &#8211; I"},"content":{"rendered":"<p style=\"text-align: center;\"><span style=\"color: #800000;\"><b><span style=\"text-decoration: underline;\">This post is brought to you by Greytrix\u2019s upcoming Self Service portal.<br \/>\n<\/span><\/b><\/span><b style=\"color: #800000; line-height: 1.6em;\"><span style=\"text-decoration: underline;\">Follow our twitter handle, @selfservicecrm to get more updates<\/span><\/b><\/p>\n<p>As organizations chase new ways of wooing new customers to improve their bottom lines, are we missing out on a surefire way of boosting profit margins: Customer Retention?<br \/>\nCompanies might be happily adopting the policy of \u2018acquire and forget\u2019 but if you look at the situation from the customer\u2019s point of view, it looks very grim. What\u2019s more, almost 80% companies think that the quality of service they provide is outstanding (though only 8% of their customers agree).<br \/>\nHere are a few facts that would familiarize you with the grim reality of customer service practices (Source : <a href=\"http:\/\/visual.ly\/customer-saved-penny-earned\" target=\"_blank\" rel=\"noopener\">Shankman Honig<\/a>).<\/p>\n<ul>\n<li>20% customers left a regular service provider due to poor customer service in 2012.<\/li>\n<li>55% backed out of a transaction or purchase due to poor service experience.<\/li>\n<li>35% lost their temper with the customer service rep in 2012.<\/li>\n<li>24% of those who lost their temper used social media to talk about their experience with the company.<\/li>\n<li>On an average a customer tells 15 people about their good experiences but tells 24 people about bad experiences.<\/li>\n<li>$83 billion estimated annual loss to U.S. businesses due to poor customer service.<\/li>\n<li>$289 is the average amount a customer would have spent with a business if only they hadn\u2019t left due to bad service.<\/li>\n<\/ul>\n<p><b>So why do customers get dissatisfied?<\/b><br \/>\n<a href=\"https:\/\/www.greytrix.com\/blogs\/sagecrm\/wp-content\/uploads\/2014\/05\/070618.onenight.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-7770\" src=\"https:\/\/www.greytrix.com\/blogs\/sagecrm\/wp-content\/uploads\/2014\/05\/070618.onenight.jpg\" alt=\"070618.onenight\" width=\"550\" height=\"404\" \/><\/a><br \/>\nA customer would appreciate some sincerity on the organization\u2019s part in solving his problems. But organizations do just the opposite. Here are a few reasons of why customers get fed-up of the services offered and ultimately leave.<\/p>\n<ul>\n<li><b>Deception: <\/b>78% of customers claim they would leave a service provider if a service delivered is different from what is implied.<\/li>\n<li><b>Rudeness:<\/b> 77% of customers claim they would leave a service provider if they have to deal with unfriendly or impolite customer service agents.<\/li>\n<li><b>Incompetency:<\/b> 73% of customers claim they would leave a service provider if they have to contact customer service multiple times for the same reason.<\/li>\n<li><b>Lateness:<\/b> 65% of customers claim they would leave a service provider if they are being left on hold for a long time.<\/li>\n<\/ul>\n<p>We have taken a look at where companies go wrong in this post. In the next post, we will continue with this series and look at how the situation can be averted.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This post is brought to you by Greytrix\u2019s upcoming Self Service portal. Follow our twitter handle, @selfservicecrm to get more updates As organizations chase new ways of wooing new customers to improve their bottom lines, are we missing out on a surefire way of boosting profit margins: Customer Retention? Companies might be happily adopting the\u2026 <span class=\"read-more\"><a href=\"https:\/\/www.greytrix.com\/blogs\/sagecrm\/2014\/05\/05\/customer-retention-the-forgotten-domain-part-i\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[332],"tags":[650,817,819,888,2077,2440],"class_list":["post-7769","post","type-post","status-publish","format-standard","hentry","category-sage-crm","tag-case-management","tag-crm-self-service","tag-crm-self-service-portal","tag-customer-portal","tag-sage-crm-integration","tag-ticket-management"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Customer Retention: The forgotten domain? Part - I - Sage CRM \u2013 Tips, Tricks and Components<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.greytrix.com\/blogs\/sagecrm\/2014\/05\/05\/customer-retention-the-forgotten-domain-part-i\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Customer Retention: The forgotten domain? Part - I - Sage CRM \u2013 Tips, Tricks and Components\" \/>\n<meta property=\"og:description\" content=\"This post is brought to you by Greytrix\u2019s upcoming Self Service portal. Follow our twitter handle, @selfservicecrm to get more updates As organizations chase new ways of wooing new customers to improve their bottom lines, are we missing out on a surefire way of boosting profit margins: Customer Retention? 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