Good customer service seems like common sense for businesses. But how valuable is it really?
Until now, this has not been rigorously quantified across different companies. Businesses are understandably reluctant to share their CRM and sales data, and most research in this field has been based on surveys. But as more Americans seek customer service online, social media offers a better platform for analyzing interactions between service reps and customers.
Using data from Twitter, we designed an experiment to study customer service interactions in two industries that generate a significant number of customer service complaints: airlines and wireless carriers. We found that prompt and personal customer service does indeed pay off — customers remember good and bad customer service experiences, and they’re willing to reward companies that treat them well.
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