It seems like one of the few things that all Americans still agree on is that cable companies and internet services providers are awful. The familiar frustrations include being placed on hold for hours, having to stay home all day in order to get basic equipment installed, and listening to service representatives imply that their company’s shortcomings are somehow our fault. In short, we don’t appreciate lackluster customer support services.
Luckily for cable companies and ISPs, telecom markets are often oligarchic at best and monopolistic at worst, so consumers don’t have many alternatives if they become fed up with the attention – or lack thereof – they receive. For those of us operating in more competitive industries, we’ve got no such leeway when it comes to keeping our customers happy.
And yet, despite ample evidence that high-quality, consistent customer support training delivers a healthy ROI, many businesses still view customer service as a chore more than as a revenue driver.
According to a study published in the Harvard Business Review, customers who rate their experience with a company as “superior” spend 140% more with the company in the future and, with subscription-based business models, are 74% more likely to renew for an additional year compared to customers who rate their experience as “poor.”
Customers who rate their experience with a company as “superior” spend 140% more with the company in the future
At Continu, we firmly believe that providing excellent customer support is the right thing to do, but we’ve also seen the numbers and are not hesitant to admit that our commitment is simply good for business. When we adequately prepare and educate our clients, they spend less time calling us for help and more time taking advantage of everything our learning management system (LMS) has to offer.