Lesson 1

The Cost of Bad Service vs. The Value of Great Service

Bad customer service doesn't just annoy people; it costs your business money.

• The Cost: Studies show that a single bad experience can prompt a customer to leave, and it costs 5 to 25 times more to acquire a new customer than to retain an existing one. Bad service is a direct pipeline to customer churn and negative reviews.

• The Value: Exceptional service generates loyalty and advocacy. A loyal customer is more forgiving of occasional errors, more likely to try new products, and, most importantly, will refer their friends and colleagues. They become your free sales team.