- Most consumers become increasingly loyal if their complaints or grievances are handled fairly, even if the outcome does not match their expectations. According to one study (1), 60% to 75% of customers who do complain will do business again if their complaint has been resolved and 95% will do so if the complaint was resolved quickly. Our complaints management service has been specifically designed help you to get closure.
- A widely adopted benchmark is that two thirds of complaints or grievances made directly to suppliers are resolved without the intervention of a third party and that two thirds of complaints referred to an appropriate facilitator are resolved.
- The return on investment (ROI) of an effective consumer complaint resolution strategy for retailers can range from 34% to 400% (2).
- A 5 percentage point improvement in customer retention can lead to a profit improvement of 25 to 85% in net present value terms (3).
Read the summary of the cost implications of not handling complaints properly to find our more.
Click here to read a blog post about Customer Retention by getclosure Director Quentin Tannock.
(1) Crie in Database Marketing & Consumer Strategy Management, 2003, Vol 11, No 1, citing a 1986 study by the Technical Assistance Research Program Institute for the US Office of Consumer Affairs.
(2) Scaglione, Management Review, 1988, Vol 77, 51-3, cited by Richard & Adrian, International Review of Retail, Distribution & Consumer Research, 1995 January, Vol 5 No 1.
(3) Bain & Co : Reichheld & Sasser, 1990, Harvard Business Review, 105 – 11, cited by Clark, Management Decision, 1997, Vol 35 No 4.