BUSINESS ADMINISTRATION
CUSTOMER RELATION MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Studies show that while customers are dissatisfied with their purchases about 25 percent of the time, only about 15 percent complain.
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True
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False
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Explanation:
Detailed explanation-1: -Only about 4% of dissatisfied customers will actually share their complaints with the business.
Detailed explanation-2: -96% of Unhappy Customers Don’t Complain, but 91% of Those Will Simply Leave. This statistic, according to 1st Financial Training Services, goes hand-in-hand with the above one. Again, don’t assume that no news is good news.
Detailed explanation-3: -According to many experts, 96 percent of customers don’t bother to complain to the business, and 91 percent never come back.
Detailed explanation-4: -According to research from Harvard Business School, increasing customer retention rates by only 5% increases a company’s profits by 25-95%.
There is 1 question to complete.