If we’ve said it once, we’ve said it a hundred times: great customer service is absolutely essential for success in your business. It’s safe to say that nobody will argue with that statement, but that begs the question- why are people still receiving sub-par customer service? Though there are many variables a business can’t control, your customer service is certainly not one of those things. Is that empowering? Overwhelming? It doesn’t have to be. Armed with the right knowledge, you can make decisions that take your customer service from ‘so-so’ to ‘so great.’ There’s no shortage of research available supporting the need for great customer service, but we’ve compiled a short list of statistics we think are most relevant for today’s businesses.

Here are 10 customer service statistics to keep in mind:

1. A loyal customer is worth up to 10 times their first purchase. – White House Office of Consumer Affairs.

2. It is 6-7 times more costly to attract a new customer than it is to retain an existing customer. – White House Office of Consumer Affairs.

3. 78% of consumers have bailed on a transaction or not made an intended purchase because of a poor service experience. – American Express Global Customer Service Barometer, 2011.

4. 75% of customers believe it takes too long to reach a live agent. – Harris Interactive

5. A customer is 4x more likely to buy from a competitor if the problem is service-related, versus price or product-related. – Bain & Co.

6. Consumers are 2x more likely to share their bad customer service experiences than they are to talk about positive experiences. – American Express 2012 Global Customer Service Barometer

7. 55% of consumers would pay more for a better customer experience. – Defaqto Research

8. 91% of customer who had a bad customer experience won’t willing do business with your company again. – Glance

9. 89% of customers get frustrated because they need to repeat their issues to multiple representatives. – Accenture

10. 62% of organizations view customer experience provided through contact centers as a competitive differentiator. – Deloitte

Great customer service is the backbone of business success. Where does your company stand? If you’re not confident in your customer service strategy, don’t panic. With the right customer service support in place, you can be sure your customer’s needs are being met efficiently and effectively.