Be the first to like this
With so many companies orchestrating major advertising campaigns around their favorable customer
satisfaction levels, it’s easy to see how important customer care now is as a major point of competitive
differentiation. Unlike technology innovations, new services, price reductions, and special promotions,
quality customer care cannot be easily replicated by competitors. And it also makes sound economic
sense. Studies have shown that it costs up to six times as much to replace a disgruntled customer than
to retain a valued customer. Service providers, financial institutions, insurers and similar businesses that
rely on a steady revenue stream from their customer base lose billions every year due to customer churn.