Monday, August 6, 2007

Customer Relationship really matters

A recent survey conducted by Harris Interactive for Verint Systems seems to indicate that customer service really matters. Consider some of the results of the survey:
1. 88% reported they find a company with good customer service much more enticing than one with the new and innovative products; that leaves 12% who prefer a company with innovative products.
2. 90% said that, on average, they tell at least one other person about a bad customer experience and 85% said they tell more than one person.
3. 88% said that, on average, they tell at least one person about a good customer experience and 81% tell more than one person.

This continues to demonstrate the old adage that bad news travels either faster or farther than good news. However, it seems that good news is starting to catch up with bad news in terms of speed of travel.

The bottom line of this survey is that it strongly supports the notion that customer relationships are a critical component of customer loyalty. These statistics also suggest that the relationship dimension of customer loyalty may be stronger than either the product or process dimension.

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