Customer experience and service update

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  • 1. The effects of customer experience and service on brand perception and retention Brought to you by: STRAT TALKING .com
  • 2. It costs 6 times more to attract a new customer than it does to keep an old one. –Understanding Customers by Rudy Newell-Legner http://www.flickr.com/photos/walmartcorporate/5684305063/
  • 3. 89% of Consumers purchase from a competitor following a poor customer experience. - Harris Interactive, 2011 Customer Experience Improvement study http://www.flickr.com/photos/criminalintent/162478786/
  • 4. Only about 4% of dissatisfied customers complain. 96% just go away. - Harris Interactive, 2011 Customer Experience Improvement study http://www.flickr.com/photos/ivanwalsh/4617349366/
  • 5. 50% of Consumers give a brand one week to respond to a service concern before they stop doing business with them. - Harris Interactive, 2011 Customer Experience Improvement study http://www.flickr.com/photos/oxfordian/6408321285
  • 6. Only 37% of Brand received “excellent” or “Good” customer experience scores this year - Harris Interactive, 2011 Customer Experience Improvement study http://www.flickr.com/photos/spijker/3273982099
  • 7. Only 1% of consumers say expectations for good customer experience are always met - Harris Interactive, 2011 Customer Experience Improvement study http://www.flickr.com/photos/epsos/5652699228
  • 8. US Businesses lose an estimated $83 Billion in sales annually due to poor customer experiences – Parature Customer Service Blog http://www.flickr.com/photos/rednuht/479370088
  • 9. Americans typically tell 24 people about negative customer service, they only tell about 15 people about positive experiences – 2012 American Express Global Customer Service Barometer http://www.flickr.com/photos/thomashawk/2751554048
  • 10. A 5% increase in customer retention increases profits up to 125% – Bain & Company http://www.flickr.com/photos/felstone/7819543656
  • 11. A 2% increase in customer retention has the same effect as decreasing costs by 10% –Leading on the edge of chaos, Emmet Murphy and Mark Murphy http://www.flickr.com/photos/zurichtourism/5161089722
  • 12. Probability of selling to an existing customer: 60-70%, Probability of selling to a new one: 5-20% – Marketing Metrics http://www.flickr.com/photos/thomashawk/21151707
  • 13. Customer Loyalty can be worth 10 times as much as a single purchase – White House Office of Consumer Affairs, Washington, D.C. http://www.flickr.com/photos/donebythehandsofabrokenartist/4098652750/
  • 14. It takes 12 positive service incidents to make up for a negative one -Understanding Customers by Rudy Newell-Legner http://www.flickr.com/photos/mrs_log-
  • 15. Customer profitability increases over the life of a retained customer – Leading on the edge for Chaos, Emmet Murphy and Mark Murphy http://www.flickr.com/photos/26628378@N03/3153377556
  • 16. 70% of customers will do business with you again if you resolve their complaints – Understanding Customers by Rudy Newell-Legner http://www.flickr.com/photos/wongjunhao/3430562137
  • 17. 73% of Consumers love a brand because of friendly customer service – Harris Interactive, 2011 Customer Experience Improvement study http://www.flickr.com/photos/samsungtomorrow/8494079316
  • 18. 68% of Customers leave because they think you don’t care about them –Rockefeller Corporation http://www.flickr.com/photos/wsdot/5448810225
  • 19. Thanks for reading. Find more insight and commentary at Strat-Talking.com Brought to you by: STRAT TALKING .com