Capitol City Speakers Bureau
  • Home
  • Speakers
  • Events
    • American Heart Month
    • Patient Safety Awareness Week
    • Stress Awareness Month
    • National Nurses Week
    • National Women's Health Week
    • Breast Cancer Awareness Month
  • Blog
  • Clients
  • Testimonials
  • What's New
  • About
  • Contact
  • Request
Picture

BLOG

Is Customer Service More Important than Price?

4/11/2023

0 Comments

 
By Shep Hyken

​
“Is customer service more important than price?”  

That’s exactly what we asked more than 1,000 consumers in our customer service research. The response was that 58% said, “Yes.” And just to make sure, we asked a similar question later in the survey, “Would you pay more if you knew you would receive great customer service?” Once again, 58% said, “Yes.” 

“Please take care of me, and I’ll even pay a little more.”

When more than half of your customers are saying, “Please take care of me, and I’ll even pay a little more,” you have to listen. The point is that price becomes less relevant when you know you’re going to get better service or have a better experience.  

Amazon is an excellent example. People trust Amazon, not just for its reliability, which is an important part of the customer experience, but also for its customer service. They like the instant email confirmations, the ability to track a package, a notification when the package is delivered, and the comfort of knowing that if the item is damaged or lost – or they simply don’t like the product – Amazon will take care of them. The result of that trust for the service and experience Amazon provides means price becomes less relevant to its customers. 

Some of you may be thinking, “Isn’t Amazon always the lowest price?” The answer is, “No.” At one time, Amazon was typically the lowest priced online retailer, but not anymore.

Today Amazon is competitively priced, which means customers may find the same merchandise on another website for a little less. Even so, customers often come back to Amazon because they know what to expect. The experience is consistent and predictable, and they know if they need customer service for a problem, they will get it, and it will be good.
 

Furthermore, Amazon is so confident about its service that its website displays where certain products can be purchased for lower prices through third-party sellers that use Amazon as a marketplace but sell directly to the customer. Yet once again, many Amazon customers still choose to buy through the Amazon Prime program.  

And some customers are willing to pay more than others. Specifically, younger customers are less price-sensitive than older customers: 

Sixty-two percent of Millennials and 60% of Gen Z are willing to pay more for great customer service versus just 46% of Boomers. 

Offering the lowest prices makes sense for some businesses, but you can’t ignore the findings. A great service experience creates price tolerance. How much tolerance depends on the market or industry. That’s up to you to determine. You’ll have to experiment to determine the tolerance levels. Just consider the findings.

​You can’t ignore that more than half of the customers we surveyed said, “Great customer service is more important than price.”
 ​

Planning your next event?
 Get in touch with us at the Capitol City Speakers Bureau today to schedule your ideal speaker and make your event  a success!
0 Comments



Leave a Reply.

    Archives

    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019

    Categories

    All
    Amy Dee
    Andrew Busch
    Beth Boynton
    Bobbe White
    Chip Bell
    Christine Cashen
    Colette Carlson
    Courtney Clark
    Donna Cardillo
    Joe Flower
    John O'Leary
    Jonathan Burroughs
    Josh Linkner
    Karyn Buxman
    Kenneth Kaufman
    Kristin Baird
    Laurie Guest
    LeAnn Thieman
    Marilyn Tam
    Mary Kelly
    Mel Robbins
    Roger Crawford
    Ron Culberson
    Shep Hyken
    Steve Berkowitz
    Steve Gilliland
    Tim Hague
    Vicki Hess
    Zonya Foco

    RSS Feed

Home

SPEAKERS

EVENTS

Blog

CLIENTS

ABOUT US

Contact

Copyright © 2023 Capitol City Speakers Bureau
  • Home
  • Speakers
  • Events
    • American Heart Month
    • Patient Safety Awareness Week
    • Stress Awareness Month
    • National Nurses Week
    • National Women's Health Week
    • Breast Cancer Awareness Month
  • Blog
  • Clients
  • Testimonials
  • What's New
  • About
  • Contact
  • Request