Developing a service strategy that leaves consumers happy earns more than customer satisfaction and loyalty, it can also help companies generate revenue. Bad service policies can end up costing more than they might think - organizations lose up to $338.5 billion in sales annually when they miss the customer service mark, according to a study by Genesys Global Survey.
The study surveyed 65 million consumers in 137 countries to gain a broad understanding of service experiences. When examining industries, the survey identified the best and worst performers.
Real estate earned the highest percentage of satisfied customers - 96 percent of clients were happy with their experiences. IT services and consultancies yielded 95 percent satisfaction rates, followed by healthcare with 94 percent.
It's understandable that real estate came in first because the industry is based on building personal relationships with customers, according to Forbes. Retail Customer Experience echoes the messages when it notes that one of the best ways for businesses to enhance a consumers' shopping experience is to provide them with customized service.
The source suggests that when companies are able to tailor products and services to each shopper, they will not only end up with more satisfied customers, but greater sales as well.