Stop Losing Money and Focus on Customer Service (Infographic)

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Sure, it pays to focus on customer acquisition -- but what about customer retention first?

According to the infographic below, 80% of businesses believe they provide "superior" customer service. But only 8% of customers would describe the service they've received in such glowing terms. When customers aren't happy, there's often significant damage done. In fact, U.S. businesses collectively lose an estimated $83 billion a year due to shoddy customer service.

The following visual comes from Shankman Honig, a customer-service consultancy in New York. "Be nice to the customers you have," the firm says. "You'll win the customers you want."

 

Click to Enlarge+

Stop Losing Money and Focus on Customer Service (Infographic)

 

More from Entrepreneur

Our Franchise Advisors will guide you through the entire franchising process, for FREE!
  1. Book a one-on-one session with a Franchise Advisor
  2. Take a survey about your needs & goals
  3. Find your ideal franchise
  4. Learn about that franchise
  5. Meet the franchisor
  6. Receive the best business resources
Entrepreneur Insider members enjoy exclusive access to business resources for just $5/mo:
  • Premium articles, videos, and webinars
  • An ad-free experience
  • A weekly newsletter
  • Bonus: A FREE 1-year Entrepreneur magazine subscription delivered directly to you
Try a risk-free trial of Entrepreneur’s BIZ PLANNING PLUS powered by LivePlan for 60 days:
  • Get step-by-step guidance for writing your plan
  • Gain inspiration from 500+ sample plans
  • Utilize business and legal templates
  • And much more

Latest on Entrepreneur