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The Truths About Customer Experience
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The Truths About Customer Experience

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Do you want to increase your revenues in your business? Do you want to decrease your costs of doing business? Then pay attention to Customer Experience. Here are the critical facts you need to …

Do you want to increase your revenues in your business? Do you want to decrease your costs of doing business? Then pay attention to Customer Experience. Here are the critical facts you need to know.

www.chrispattas.com

Published in: Business, Education

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  • 1. The Truths AboutCustomer ExperienceHow to increase revenue & save costsBy Chris Pattaswww.chrispattas.comJune 2013
  • 2. “Price is not the main reason for customer churn. It isactually due to the overall poor quality of customerservice.” Accenture, 20082
  • 3. “A customer is 4 times more likely to defect to acompetitor if the problem is service-related than priceor product-related” Bain & Company3
  • 4. “The probability of selling to an existing customer is 60-70%.The probability of selling to a new prospect is 5-20%.”Marketing Metrics4
  • 5. “For every customer complaint there are 26 otherunhappy customers who have remained silent.” Lee Resource5
  • 6. “A 2% increase in customer retention has the sameeffect as decreasing costs by 10%.”Leading on the Edge of Chaos, Emmet Murphy & Mark Murphy6
  • 7. “96% of unhappy customers don’t complain, however91% of these will simply leave and never come back.”1FinancialTraining7
  • 8. “A dissatisfied customer will tell between 9-15 peopleabout their experience. Around 13% of dissatisfiedcustomers tell more than 20 people.” White House Office of Consumer Affairs8
  • 9. “Happy customers who get their issue resolved tell about4-6 people of their experience.” White House Office of Consumer Affairs9
  • 10. “70% of buying experiences are based on how thecustomer feels they are being treated.” McKinsey10
  • 11. “55% of customers would pay extra to guarantee abetter service.” Defaqto research11
  • 12. “Customers who rate you 5 on a scale from 1 to 5 aresix times more likely to buy from you again, comparedto ‘only’ giving you a score of 3.” Telefaction data research12
  • 13. “It takes 12 positive experiences to make up for oneunresolved negative experience.” “Understanding Customers” by Ruby Newell-Legner13
  • 14. “Loyal customers are worth up to ten times as much astheir first purchase.” White House Office of Consumer Affairs14
  • 15. “A 5% reduction in the customer defection rate canincrease profits by 5-95%.” Bain & Company15
  • 16. “It costs 6-7 times more to acquire a new customerthan to retain an existing one.” Bain & Company16
  • 17. “eCommerce spending from new customers is onaverage less than half that of repeat customers.” McKinsey17
  • 18. Can you afford not to improveCustomer Experiencein your Business?By Chris Pattaswww.chrispattas.comJune 2013