Poor customer service costing firms £3bn

Small business owners have been reminded about the importance of customer care with new data released by Oxford Brookes University showing that poor customer service has cost businesses over £3.3bn in the last two years alone.

Substandard treatment has seen companies lose up to 20 million customers in the last two years as around 75% of consumers switched at least one product or service supplier, with 20% citing inadequate customer service.

“Organisations have to work harder than ever to keep their best customers as they have become increasingly discerning and with the rise of price comparison sites it is now much easier to compare and switch products,” said Professor Merlin Stone of Oxford Brookes University.

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