900 N. Kings Highway, Cherry Hill, New Jersey 08034
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The Online Advisor

September 2007

New Business

How’s your customer service?


According to a recent survey, 48% of consumers say that customer service is the biggest factor in creating loyalty to a company. 37% said it was product quality; 13% said it was price. Brand name or the company’s reputation was cited by the remaining 2%.

Is your business paying enough attention to customer service? If you need further convincing, take a look at the following:

* Satisfied customers tell five people about good service they receive. Dissatisfied customers tell ten people when they receive bad service.

* For every unsatisfied customer who complains, there are 26 other unhappy customers who say nothing. Of those, 24 won’t come back.

* The average company loses about 20% of its customers each year.

* Of customers who take their business elsewhere —
15% find cheaper products somewhere else.
15% find better products somewhere else.
65% leave because of poor customer service.


Before you invest in any business, it's always a good idea to discuss the proposed venture with your advisors. If you would like assistance with evaluating a business opportunity or with legitimate tax planning, please call our office.

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