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The equity of services

Creating service equity with customers helps you retain them in the long haul. This can be achieved by providing a fantastic experience throughout the customer lifecycle, being responsive to their complaints, and cultivating a shared sense of trust and partnership. Customer retention makes better business sense than acquisition, because loyal customers return, pay a premium, and even forgive mistakes. Businesses compete fiercely for new customers on products, pricing, and branding. But what makes customers return is a shared sense of trust, value, and belonging, usually accomplished by great customer service. Great services, therefore, create Service Equity.

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