As per the Small Business Administration, poor customer service is the number one reason that people put an end to doing business with a company. And since several customers never let you know they are unhappy, it is often too late for you to right the situation. Thus, effective customer service must be a critical component in your business’s method of operation. Joseph Stone Capital says that customers may not tell you that they have had a bad experience with your business but they will tell their family, friends, and co-workers. Many will even spread the word with a poor rating on several review services for others to see. The effects of poor customer service wave far beyond the revenue lost with that one person.
Customers are the foundation of success for any business, and if clients are not treated right, the business can lose its reason for existence. If you are not taking care of your clients, and your business becomes known for poor customer service, you can expect several things to happen and none of them is good news for your business.
Joseph Stone Capital talks about how customer complaints can influence a business:
A Customer complaint is bad for your bottom line. The dwindling customer base results in fewer sales, which results indirect loss of revenue. Add to that the amplified costs from employee turnover. A business that tries to salvage its repute by boosting advertising and public relations efforts will have additional costs added to the mix. If no effort is made to perk up service to get those lost customers back, the result will be a descending spiral that can eventually lead to you losing your business.
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