In the U.S., poor customer service costs brands $83 billion every year. A study by management consultancy Bain & Company and Harvard Business School found increasing customer retention rates by 5 percent increases profits by 25 to 95 percent. To keep your customers coming back, businesses must provide a good product and a high-quality customer experience. Exemplary customer service distinguishes your brand, builds repeat business, combats price competition, and even improves employee morale.
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