When you shop, is customer service more important than the price you pay? It's more important than you might may think. Sarah Buxbaum's study found well over half of Millennials and GenZ-ers give a resounding "YES!", while a bit more than half of baby boomers say 'no'. " The younger generation is a little bit more 'entitled' because they understand social media and they especially understand that their voice will be heard all over the world in a matter of seconds."
She says businesses are cutting down on person-to-person service and her survey shows that's not a good business decision. "People want to pay more to be treated properly and I think it's very important that businesses realize that."
You shouldn't ignore customers who tell you they will pay for better customer service. Buxbaum: "The smaller businesses have a bigger opportunity right now to stand out against the larger businesses --- because smaller businesses live and breath by their customers."
She says it's as if people are saying, “Please take care of me and I’ll pay a little more" Buxbaum found that millennials and GenZ-ers are especially in need of good customer service and want it even if they're shopping online. She says overall businesses are cutting back on customer service staff at a time they should be improving it. Buxbaum is the owner of CWS Hospitality.
- 58% of customers will pay more for better customer service
- 62% of Millennials and 60% of Gen-Z customers will pay more for great customer service
- 46% of Baby Boomers said yes. .
- When you look at your pricing strategies, you must keep your customers’ ages in mind.