How Negative Customer Experience Affected Top Companies of the Modern Era
Customer experience has become an essential notion in scaling up organizations and replenishing customer needs in an adequate manner. It creates an organized path for the companies to move towards worldwide recognition and fruitful results. A great customer experience is a lifetime landmark on the business canvas as it highlights and endorses customer loyalty and advocacy.
The independent research states 80% customers show sparkling interest in paying more for products and services that have brilliant customer experience. It keeps customers in the loop and save organizations from customer churn which leads to little or no interaction with our most valuable clients.
This aspect makes or breaks the organizations as a negative customer experience fails to replenish the burning desires of the customers and their doors close permanently on our offerings.
The experts elaborate this vital organizational requirement as “A customer’s mind is full of liberties and while we finalize having or not having a great customer experience for our organization, 90% of our competitors already are”. In the parallel world, the “consumers” state “brand loyalty” is a relic stigma and brands with smooth, coherent and consistent customer experience will thrive on.
How Negative Customer Experience Toppled Over The Top Companies In The Modern Era?
Let’s flip the coin and understand its other side which insists upon founding businesses and organizations based on the negative customer experience. Here’s how renowned brands that once grossed highest revenues were penalized for producing a wave of negative customer experience losing millions in sue-cases, referrals and the market share. The listed brands thought customer experience is essential only in initial stages of the business However, the aftermath of augmenting consumers with negative customer experience defines a series of business fiascos.
1. Verizon Communication – Data Overbilling:
Verizon Communication, better known as “Verizon” is one of the most prolific telecommunication companies offering small and medium business solutions including super-fast internet, phone coverage and television services. Despite its 126 Billion USD revenue in 2016, the company collapsed nationwide with data overbilling issues that resulted in market deflation and infuriation of thousands of satisfied customers for their negative customer experience. More than 4000 customers amplified this fiasco through social-media and official forums stating that Verizon Communication did not acknowledge overbilling nor offered a fix.
The Film-Maker “Matthew Sanders” had chosen Verizon Communication as his first telecommunication service and used 6GB data in one month. Following the dilemma, Verizon overbilled him with the staggering 38GB data usage equivalent to his 6 months plan. A negative customer experience affected the referrals of Verizon Communication as the renowned customers are the biggest sources of sharing the pros and cons with the world.
Source: Star Tribune
2. Comcast – Offensive Customer Support :
Comcast is heralded as the most unprincipled global telecommunications units operating in America. Associated with an untrained customer support, this brand rests in the top rung of worst companies that worked nationwide in 2014. The telecommunication giant has infuriated thousands of customers with stagnant customer responses and phone vandalism that resulted in customer churn and deflation in the nationwide sales. Their customer-allergic culture spirals their work mechanism as workers are pressured to achieve targets and CEO fails to fix their improper working ethics.
In 2014, the negative customer experience continued and turned into an evitable stumbling block for Comcast with a legitimate phone call recording. The co-founder of “Begin” named “Ryan Block” called in to cancel his services with Comcast and in return he faced phone vandalism and offensive verbal remarks for 20 minutes. The customer support agent exemplified how a negative customer experience makes things worse for the unsatisfied customer. The phone recording was viral and it staggered through company’s assumed high horses of providing a great customer experience. The revenue of Comcast plummeted as indefinite concerns shaped into the powerful evidence which depicts their poor customer experience.
Acquire The Greatest Customer Experience To Substantially Grow!
It does not matter if we have become established as a firm or on the building blocks of developing into one, the focus on delivering the best customer experience has its own essentiality. It helps in eradicating the aspects that trigger dissatisfaction for customers. An excited, confident and content customer exhibits a 16% higher chance of remaining associated with us for a lifetime.
A great customer experience maximizes customer satisfaction and converts potential buyers into the long-term customers. As the environment is becoming competitive, the organizations are striving for an excellent customer experience which works as a plus for their list of competitive edges to thrive in the dynamic business positioning. The interaction, level of treatment and safeguarding the needs of customers reward organizations in thousand folds especially for referrals as shifting them into potential customers is less-demanding and less-complicated.