A recent survey highlights how unhappy Americans are with the products and services they purchase. The 2020 Customer Rage study, carried out by Customer Measurement Care and Consulting (CCMC) along with the Center for Services Leadership at W. P. Carey University and Kraft Heinz, reveals that over two-thirds of households faced at least one issue in the past year, leading to frustration and anger. This marks the ninth study wave since the first such research was done for the White House in 1976. Results from the 2020 study indicate that customers remain dissatisfied overall and, in fact, at even higher rates than those reported in the 1976 White House study.

Even with a lot of money spent on various methods to address complaints, over half of the complainants say they are still unhappy with how their issues were managed, putting repeat business and loyal customers at risk. Corporate America stands to lose $494 billion in revenue by doing the right things in the wrong way regarding customer care.

The findings show that companies need to not only actively solicit complaints, but then they need to truly deliver on satisfaction, which leads to customer loyalty, and brand loyalty. It is simply not enough to only focus on one part of the equation.

Another key finding: Social media is a key portal into the customer experience. More and more customers are taking to social media to voice complaints, and to share these experiences with communities at large. Therefore, much research can be done by companies in order to stay on top of what complaints are happening in the social media space, and work to resolve them.

In the end, there is good news and bad news. The good: Handling complaints that end in highly satisfied customers result in high levels of brand loyalty resulting in increased revenue. Companies can adopt “best practices” to ensure that satisfaction is delivered after a complaint is made. The bad: Challenges continue to exist for companies to invest in the right ways in order to increase customer satisfaction. Investing in complaint handling avenues alone is not enough. As the survey says, “Do It Right, Or Don’t Do It!”

For more information on the 2020 Customer Rage Study, and to download a free copy of the executive report on the study, visit this link.