While customer service is becoming a higher priority for companies in Mexico, it wasn't always the case. Back in 2009, a study was released that showcased exactly how much losing your customer's loyalty can cost you – in US dollars.
The study, published by Genesys demonstrated that over 78% of consumers ended their relationships specifically because of poor customer service. Of that 78%, 63% of those consumers then went to a competing firm. That means that you are losing 48% of your total customers to the competitor.
To read the full report, click here.
From the report, the top customer service providers were airlines and hotel chains, companies that are accustomed to creating reward or incentive programs. Firms that really more heavily on direct customer service without said rewards, like Banks, Telecom providers and consumer products, were the biggest losers – with a total loss equaling over US$34 billion dollars annually.
It becomes clear very quickly that customer loyalty has a significant financial impact on the success and failure of a business. To learn more about improving customer experience, and your interaction with the Mexican consumer, join us at Loyalty World Mexico, May 15-16 at the Four Seasons Hotel in Distrito Federal.