Not so happy to serve? 9 in 10 consumers dissatisfied with customer service experience

Customer dissatisfaction may cost businesses $14.98b annually, Qualtrics warned.

Are businesses really happy to serve? Singaporean customers do not think so based on a recent report by Qualtrics.

Qualtric’s 2022 Global Consumer Trends report showed that nine in 10 Singaporeans expressed dissatisfaction towards businesses’ customer service in 2021.

Those surveyed also ranked customer service as the second most common area in which they want businesses to improve.

Customers said they also need businesses to care more about them (68%) and get better at listening to feedback (68%). 

The report warned customer dissatisfaction could cost businesses in Singapore a combined total of $14.98b (US$11b) given that 51% of consumers have cut spending after having a single bad experience with a company.

Qualtrics also found that consumers would be 3.8x more likely to purchase again, 4.8x more likely to recommend a friend, and 4x more likely to trust the brand if they have good customer experience.

“It’s more important than ever for businesses to continually listen to and understand the needs of their customers, and then rapidly adapt to those signals. Those that can make ongoing use of customer insights will differentiate themselves going forward,” Bruce Temkin, head of Qualtrics XM Institute, said.

"The last two years have affected just about everyone at home and at work, pushing consumers to re-evaluate many of their relationships. They are actively looking to do more with organisations that put their needs first,” Temkin added.