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Bottom Line Calculators
To calculate the real value of customer service, simply put in your relevant numbers below.
| The Cost of Losing Customers: When customers leave, they give your competitor's money. If you keep your customers, you keep the money.
The Cost of Bad Service: Highly effective companies spend about 10% of their operating budgets on reworking and fixing customer problems caused by poor service. Ineffective companies spend as much as 40% of their operating budgets on the same thing. Improved customer service can create significant savings in this area.
The Cost of Replacing Your Lost Customers: As well as finding new customers, you must concentrate on existing accounts Retaining current customers saves cost.
The Cost of Turnover: Losing customers is often related with employee turnover. Improving customer loyalty requires improvements in employee retention, which again, results in added savings.
* Mathematical equations courtesy of TARP
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