The customer experience industry is an essential part of the business world. Answering queries about products and clarifying concerns related to deliveries and fulfillment is no easy task, and keeping clients happy is one way to ensure consistent sales. It is no surprise then, that market analysts and business owners pay close attention to the trends regarding customer service.

The statistics relating to this side of the industry are an excellent source of information for building strategy-anyone from a call center outsourcing company to an industry player in the accounting world will benefit.

How much is the customer service industry worth?

Some people do not realize the value of the customer service industry. Currently, the customer management field is valued globally at over $7 billion. This number is expected to rise in the coming years, especially since social media platforms and other web-based channels have allowed customer service to transcend traditional methods.

Does customer service really affect how people purchase or consider a brand?

The answer is yes. A staggering 84% of customers claim that quality service is crucial when purchasing a product, according to a survey facilitated by Zendesk. In addition, most customers state that staying with the brand for future purchases also hinges on a good reputation founded in quality customer service.

Poor interactions with customer service agents are a detrimental factor to growth, with some considering switching brands even after just one mishap. More than half of customers express disinterest with automated phone operators (56%). In addition, about 33% want their problems resolved instantly; waiting time is also vital in keeping a customer interested.

Many people unfortunately share the sentiments of poor customer service-this appears to be a common trend for multiple brands and industries as a whole. For every ten people, six will talk about an unpleasant experience with a customer service agent. This spells trouble for businesses that rely on word of mouth, a lucrative method of building reputation.

On the flip side, over 70% will also share a good experience that they have with customer service. Still, this should be motivation for companies to build on this aspect of their business operations.

What are the preferences of a customer?

In a world where digital platforms reign supreme, there is some surprise that phones are considered the most popular method of fulfilling customer service. For instance, over 76% of respondents prefer to use phone calls to contact a company for their concerns. This is according to a study held by the CFI Group. The popularity of phone seems surprising because of the fact that most people these days have access to internet connection and web-based platforms.

In addition, social media was actually the least preferred option.

Lastly, nearly two-thirds of people are more likely to spend more on a brand with better customer service. Having quality interactions entails fulfillment of expectations, adding to customer growth for companies.

Overall, knowing these statistics can help businesses recalibrate or retain how they operate their customer service. It might help to account for the preferences of customers as well as the most popular channels of fulfillment.