Were you sleeping off a hangover during Intro To Fundamental Business Principles?

The Red Tape Chronicles says many companies see customer service as a cost center, but in fact…

The actual cost of providing good customer service — having a human being answer the phone, for example — only costs between $10 and $30 per customer…

Companies that improve their customer service experiences find consumers become immediately loyal — they are 2.5 times more likely to buy again from the same company.

Read between the spreadsheets. Improving customer service is a cost-effective investment in repeat business. — BEN POPKEN

CEOS THINK CUSTOMER SERVICE IS GREAT [The Red Tape Chronicles]

RELATED: 4 Signs Your Customers Hate You

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.