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Customer
Challenges, Opportunities and Success
The following quotes depict the business environment facing businesses
in today's marketplace:
- Online retailers' inadequate customer service cost them more than
$6 billion in sales last year, an amount that will top $173 billion
over the next five years unless things change. Better customer service
would have boosted the average company's online sales by close to 35%.
Market research firm Datamonitor.
- $700 million is lost annually by commercial banks and financial
institutions because of missed profit opportunities through inadequate
CRM.
Peppers and Rodgers Group and Roper Starch Worldwide.
- "20% of our customers generate 150% of our profit."
Chase Manhattan Bank
- "Some companies can boost profits by almost 100% by retaining
just 5% more of their customers."
Harvard Business Review
- "When customers interact with a CSR (Customer Service Representative)
while browsing a Web site, 60 to 70 percent of them complete a transaction."
CIO Magazine
- 62% of Internet consumers say that if live online customer service
were available, they would purchase more products via the Web.
Accenture (formerly Andersen Consulting)
- "E-commerce initiatives that fail to deliver a human touch
in a Web environment that is consistent across the other media channels
will reach less than 30 percent of their potential."
Gartner Group
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