Episode 39: You don't need complex algorithms to have amazing customer service.
Kelli Wilks
Director, Negotiator, Fractional CPO | ERP, TPRM, Enterprise Transformation | Executive Member, WISL | Women's Negotiation, Numeracy & STEM Advocate ??| Podcast host ?? | Follow for insights & resources ??
According to a 2023 study, more than half of consumers (53% according to this report) will cut spending with that provider after a SINGLE bad experience? - that's right - no second chances, they simply won’t go back.? The study was conducted across 23 countries and 23,000 consumers and it estimated that poor customer service amounted to whopping $4.7trillion in lost revenues globally. That’s sobering if ever there was a statistic you want to remember. Why am I talking about this and what, Kel, does this have to do with negotiation?
Stewardship and service to others.?
See? Simple.?
I talk about both of those topics regularly - as these should be your goals every time - whether in deal-making or when running a business.? Showing that the other person matters, that you value them in that exchange, will build and nurture relationships and will pay dividends for the long term.?
Need more convincing?? Let's jump in to hear some other statistics.
Listen here: ?? https://podcasts.apple.com/gb/podcast/kelli-confidential-negotiation-essentials-empowering/id1668666762
Citations and Resources: ? ?
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“America’s Best Customer Service: 2024”.? Newsweek.? Online.? April 2024.? https://www.newsweek.com/rankings/americas-best-customer-service-2024
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Khoros Research Team. "Must-Know Customer Service Statistics of 2023." Khoros, 2023.?https://khoros.com/resources/customer-service-statistics
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Morgan, Blake.? “15 Stats about Post-Covid Customer Service”.? Forbes.? Online. 15 March 2022. https://www.forbes.com/sites/blakemorgan/2022/03/15/15-stats-about-post-covid-customer-service/
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Nextiva Research Team. "100+ Essential Customer Service Statistics & Trends for 2024." Nextiva, 2024. https://www.nextiva.com/blog/customer-service-statistics.html
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Petersen, Tyler. "Poor Customer Service Threatens $4.7 Trillion in Annual Revenue Globally." Business Wire, 2023. https://www.businesswire.com/news/home/20211115005083/en/Poor-Customer-Service-Threatens-4.7-Trillion-in-Annual-Revenue-Globally-as-Companies-Struggle-to-Retain-Staff
Zippia Research Team. "28 Critical Customer Retention Statistics [2023]." Zippia, 2023. https://www.zippia.com/research/customer-retention-statistics/
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Recommended Books:
Blanchard, Ken and Sheldon Bowles.? “Raving Fans”.? Jossey Bass Publishers.? 1 Jan 1996.? https://www.amazon.co.uk/Raving-Fans-Ken-Blanchard/dp/0688123163/ref=sr_1_2?crid=19TCE3VXKVG0Y&dib=eyJ2IjoiMSJ9.SZf2xKmlCW73rw_-haamHKXeMGf0v28OHDsz9ZM5rn_Ft8JWBs3YLIZh1bSfhjXkAm_DzrKVUtRxoAqThz2rb9e8qzHMk0UdmxR35gCo0PwQzrJNLVVWuyIg1IDUWYUDdXQW-a2Rc_s_eIDSFWAhT7Z3hn74-R5ROTTTI-kVmtQ.OqCZ35LUONLooTtPHGY1a1PCoqybYQqj_RoZ68yEcFM&dib_tag=se&keywords=Ken+Blanchard+raving+fans&qid=1718705402&s=books&sprefix=ken+blanchard+raving+fans%2Cstripbooks%2C198&sr=1-2
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Kawasaki, Guy.? “Enchantment:? How to Charm, Influence and Persuade”.? Penguin Press.? 5 April 2012.? https://www.amazon.co.uk/Enchantment-Changing-Hearts-Minds-Actions/dp/0241953650/ref=sr_1_1?crid=388VIS46659UB&dib=eyJ2IjoiMSJ9.hxOOxNzXlEbqJ3e_FLsTRC10mcEiUIqJrPfMTgbgjTJG53pkkLp0HN06aHuqj9EDgvOJc67PN84dBlbzv7soBIvOJ2VfZuHcasgD5edbwNFN8F1l_zEMPIUJth5VhbqkuJgWM-S9zSshI3EOpfKx1g.FT-8kv1L9NhwntL3IvqYm6AdjuQj_z-HaNayj3wa-1g&dib_tag=se&keywords=guy+kawasaki+enchantment&qid=1718705644&s=books&sprefix=guy+kawasaki+enchantmet%2Cstripbooks%2C173&sr=1-1