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| courtesy: www.newli.com |
In fact, only half of the companies aware of the loss of business had attempted to win the business back, the survey found, with the worst offenders being telcos, ISPs and online retailers.
Prepared by StollzNow Research and commissioned by RightNow Technologies, a provider of on demand customer relationship management (CRM) software solutions, the report's findings are proof that the impact of a poor customer experience can directly affect a company's bottom line.
According to Neil Stolznow, head of StollzNow Research, the report proves that "Australian companies devote far too much time to customer acquisition and nowhere near enough time in customer retention".
Furthermore he says that the "long term brand health of companies was at stake" if they didn't become more customer-responsive.
Despite the high cost of customer acquisition relative to customer retention, organisations appear to be content with a proportion of customer churn based on poor customer experiences. Two-thirds of respondents in Australia and New Zealand said they had experienced poor customer service at some time during their relationship with companies in one of the seven targeted industries.
