Today, all businesses function in a highly customer-driven environment. A plethora of choices within almost every sector has promoted them to fight for customer attention.

Moreover, it is not just products/services or pricing that they must compete with, but also customer service - more than two-thirds of companies already compete mostly based on that.

Given how one-third of customers consider switching brands after a single instance of subpar customer service, it is not surprising to see companies in the U.S. losing $62 billion a year.

So, yes, improving your customer service can help your small business grow steadily with a loyal customer base in tow.