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We all know that companies sometimes fail to live up to the service expectations of their customers—but then what? Customer tolerance is the measure Accenture uses to understand the impact of the entire service experience on customers, and includes the effect of service trade-offs on customer retention and how well a company can recover from a service failure.
Accenture recently undertook primary research into customer tolerance, and Stephanie Helland, a principal in the Accenture Sales and Customer Services group, discusses the outcomes in this podcast. Helland reveals that the study’s key findings are:
- Companies can recover from service issues or failures.
- Ideally, companies should limit customer wait time to three minutes.
- It’s important for companies to minimize multiple transfers or other aggravations in the service experience.Implement robust performance management practices.
Helland shows how executives can use these and other insights to develop optimal customer-service strategies for their businesses.