This according to SuperOffice.com:
We live in a customer-centric world. Business leaders, such as the CEO of Amazon, Jeff Bezos realized it early enough to define his business ethics as “customer obsession” and turned his company into a global symbol of success.
Even though customer focus has been there for a while, Bezos seems to be its most devoted advocate, explaining: “All the success that we currently have is due to the fact that we put customers first.”
The positive or negative word-of-mouth has the power to make or break any business.
Just one poor customer experience is likely to push 89% of consumers to start doing business with a competitor, a study by Oracle famously claims. But what is even worse is that dissatisfied customers will tell about their bad experience to others!
Research shows that 95% of customers share bad experiences with others. Out of which 45% share negative reviews on social media. And with 88% of customers trusting online reviews as much as they trust their own friends, social media can spread the “bad word” like a wildfire!
In the same vein, good word-of-mouth can do miracles for brands. According to the Nielsen Global Survey, 83% of customers would trust recommendations from the people they know.
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