WizzePay
  • WizzePay
  • Getting Started
    • Quickstart
    • Publish your docs
  • Basics
    • Editor
    • Markdown
    • Images & media
    • Interactive blocks
    • OpenAPI
    • Integrations
  • Wizze Overview
    • Introduction
    • Absctract
    • Global Mission
    • Economic Growth
    • Economic Impacts
  • Economic Value
    • Customer Retention vs. Customer Acquisition
    • Profitability through Repeat Business
    • The Tangible Benefits of Customer Loyalty
      • Increase in Customer Lifetime Value (CLTV)
      • Upselling and Cross-Selling Opportunities
      • Word-of-Mouth Marketing
    • The Economic Impacts of Loyalty Programs
      • Boosting Revenue Growth
      • Reducing Customer Acquisition Costs
      • Enhancing Customer Retention
      • Encouraging Customer Engagement
    • Transforming Customer Service into a Profit Center
    • Conclusion
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  1. Economic Value

Transforming Customer Service into a Profit Center

While traditionally viewed as a cost center, innovative businesses are leveraging customer service as a profit center. According to a report by American Express, US consumers are willing to spend 17% more to do business with companies that deliver excellent service. Transforming customer service into a profit center could significantly boost a company's economic performance.

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Last updated 6 months ago