Study finds return on investment in complaint handling can be as high as 1000%
Professor Tania Sourdin (Newcastle Law School), Dr Jamie Carlson (Newcastle Business School), Emeritus Professor Martin Watts, and Ms Christine Armstrong (PhD Candidate) have found that return on investment in complaint handling can be as high as 1000%.
The research commissioned by SOCAP Australia (The Society of Consumer Affairs Professionals Australia) and undertaken by the University of Newcastle, found that the benefits of effective complaints handling is higher than previously thought, and could affect millions of Australians who complain to businesses each year.
The greatest benefits included customer satisfaction; customer retention; staff satisfaction; and customer lifetime value as well as product improvements made as a result of feedback.
NSW Minister for Innovation and Better Regulation Matt Kean launched the SOCAP Australia UON report, ROI of Effective Complaints Management, for World Consumer Rights Day.
The report summary can be found here.
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