Looking for ways to improve your business? Stop and think about the number one cause of complaints and frustration among customers: having to wait.
Although it is impossible to completely eliminate waiting periods or lines from forming at an establishment, it is possible to improve upon each customer’s waiting, or “queing” time, while they wait to carry out whatever business they came to a store or company for. Whether it be minimizing que periods at a Wells Fargo or minimizing line length at a local grocery store, if you make it a point to better your customer’s overall experience, your company’s reputation and overall profits will soar.
According to Paco Underhill, author of Why We Buy: The Science of Shopping, “waiting time is the single most important factor in customer satisfaction.” A negative experience for one single customer can prevent a multitude of different potential customers from ever considering doing business with your company.
Additionally, a “retail customer dissatisfaction” study conducted in 2006 by Lavi Industries revealed that 86% of customers stopped doing business with a company due to poor service. The same study also found that companies rated higher in customer service are 12 times more profitable than companies rated below them.
After reading Lavi Industries infographic, I hope it inspires any business owners to always be on the lookout for ways to improve their company’s customer service. Enjoy.978