Clients will gossip about bad service

A survey of customers’ attitudes towards service in retail has some takeaways for advisors.

You should know a history of good customer service will cause 76% of consumers to spend an average of 12% more on a purchase, says an American Express survey.

Read: Regulators won’t stop at CRM2

As well, 50% of Canadians always tell family and friends about customer service experiences—whether they’re good or bad. On average, consumers tell eight people about good experiences, and 17 people about bad ones.

Further, 40% believe businesses are paying less attention to customers (more than any other country surveyed), and only 2% recall a customer service experience in the past year that exceeded their expectations.

The survey also shows it’s important you use social media since nearly a quarter of respondents (21%) say they’ve used social media to get a customer service responses.

Also read:

Discussing subpar performance with clients

5 items regulators focus on when you’re audited

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.