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Amex Survey Shows Customers Are Satisfied With Service

[Wednesday, January 3rd, 2018]

If there’s one thing people love to do, it’s gripe about getting bad service. But a new survey from American Express shows that in fact, folks feel like they’re getting pretty good customer service these days – in spite of the impression you may get from scrolling on social media.

American Express, which offers a range of credit card products for folks with fair credit, good credit, and excellent credit, surveyed a random sample of 1,000 people ages 18 and over and found that in general, consumers are more satisfied than ever before with the level of customer service they’re receiving.

Eighty-one percent of those surveyed said that companies are meeting or exceeding their expectations for service. In 2014, only 67% said the same. Forty percent of folks said that they feel businesses have upped their level of focus and attention to good service, while in 2014, only 29% felt that way.

Good customer service is good business

The Amex 2017 Customer Service Barometer is done each year, measuring how people feel about the interactions they have with companies across the spectrum. Raymond Joabar, executive vice president of Amex’s servicing organization, explains that customer service does make a difference. “Seven in 10 U.S. consumers say they’ve spend more money to do business with a company that delivers great service,” he reports. “More companies are realizing that delivering great care is not just the right thing to do; it also makes great business sense.”

In fact, people said they would spend up to 17% more to do business with a company that has good customer service, and young people were the most willing to shell out more for a business that makes them feel cared about. Millennials were the leaders in saying they’d prefer to spend more money for a superior customer service experience. They are more likely to share that experience online as well, putting it out on social media and telling their friends and family when they’ve had a positive or negative experience with a customer service representative.

And bad service costs companies, as well. Over half of those surveyed said they’d cancelled a transaction over poor service, and 33% said they’d switch service providers or go elsewhere after only one bad customer service interaction. American Express has a reputation for good customer service, making them a leading company when folks are looking for a credit card for fair credit.

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