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The Financial Side of Customer Service, by Lorman

The Financial Side of Customer Service is brought to you by Lorman

Gain a clear understanding of how customer service greatly impacts a company’s revenue.

There is a distinct connection between customer service, loyalty and bottom line results. Many businesses do not invest enough time on the revenue impact of customer service, however, research in the field illustrates that a poor user experience (UX) negatively impacts present and future revenue flows. Research conducted by the Temkin Group illustrates that a moderate increase in customer experience generates an average revenue increase of $823 million over three years for a company with $1 billion in annual revenues. Not being attentive to the financial side of customer service will potentially harm revenue, your brand and future competitive placement. You will gain an understanding of how to create a positive impact financially, competitively and for future health.

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