22 really useful customer retention stats

22 really useful customer retention stats,[object Object]

68% of customers leave you because they perceive you are indifferent to them,[object Object],http://www.retentionofcustomers.com/Customer_Retention_Ideas_Report_DC_Version.htm,[object Object]

93% of adult Americans said that a company’s reputation for honesty & fairness is extremely important to them,[object Object],Gallup poll for the Better Business Bureau 2007,[object Object]

Companies that prioritize the customer experiencegenerate 60% higher profitsthan their competitors,[object Object],Sources; Gartner Group and “Leading on the Edge of Chaos”, Emmett C. Murphy and Mark A. Murphy,[object Object]

50% of people emphasise the convenience of electronic interaction over face-to-face,[object Object],http://www.emarketer.com/Article.aspx?R=1007395,[object Object]

281 million pages featuring “customer service” ranked by Google,[object Object],Google results for 8/7/2010,[object Object]

86% of US & European consumers say their trust in corporations has declined over the last 5 years,[object Object],Cited in “A Complaint is a Gift” ,[object Object]

1.17m pages featuring “customer complaints” in 2007. ,[object Object],3.36m pages featuring “customer complaints” in 2010,[object Object],Google results for 8/7/2010,[object Object]

43% of people feel less inhibited about complaining once they get online,[object Object],http://www.emarketer.com/Article.aspx?R=1007395,[object Object]

satisfied customers tell 9 people how happy they are,[object Object],dissatisfied customers tell 22 people about their bad experiences,[object Object],http://www.allbusiness.com/sales/customer-service/1096122-1.html,[object Object]

A commitment to customer experience results in up to 25% more customer retention and revenuethan sales or marketing initiatives,[object Object],Sources; Gartner Group and “Leading on the Edge of Chaos”, Emmett C. Murphy and Mark A. Murphy,[object Object]

1134 retweets and 3,000+ backlinks,[object Object],(and counting!),[object Object],of an airline passenger complaint letter, republished by the Telegraph newspaper ,[object Object],http://www.telegraph.co.uk/travel/travelnews/4344890/Virgin-the-worlds-best-passenger-complaint-letter.html,[object Object]

A 5% increase in customer retention can increase business profits by25% - 125%,[object Object],Sources; Gartner Group and “Leading on the Edge of Chaos”, Emmett C. Murphy and Mark A. Murphy,[object Object]

80% of your future profitswill come from just 20% of your existing customers,[object Object],Sources; Gartner Group and “Leading on the Edge of Chaos”, Emmett C. Murphy and Mark A. Murphy,[object Object]

Repeat customers spend 33% more than new customers,[object Object],Laura Lake,[object Object]

the average dissatisfied customer will tell 11 ,[object Object],others about their experience,[object Object],The Sydney Entrepreneur Centre,[object Object]

Research shows that for everycenta company spends on improved customer service they see a return on investment of 34% to a massive 400%,[object Object],www.sarocks.co.za,[object Object]

60–75%of customers will do business with a company again if it deals with a customer service issue fairlyeven if the result is not in their favour,[object Object],www.sarocks.co.za,[object Object]

If you resolve a complaint quickly & with little fuss on the part of the customer, studies show that 9 out of 10 customers will buy your product or use your service again,[object Object],www.sarocks.co.za,[object Object]

When MBNA halvedits defection rate, profits rose a whopping 125%,[object Object],http://www.ncbi.nlm.nih.gov/pubmed/10107082,[object Object]

A 5% increase in customer retention can increase a company's profitability by 75%,[object Object],http://www.bain.com/bainweb/Consulting_Expertise/capabilities_detail.asp?capID=102,[object Object]

62% of service execs have compensation tied to loyalty scores,[object Object],Twitter @KnowledgeBishop,[object Object]

80% of companies believe they deliver a superior customer experience, but only 8% of their customers agree,[object Object],Bain & Company from Harvard Management Update,[object Object]

Customer Thermometer is a 1-click customer feedback tool dedicated to helping businesses improve customer retention. From $17 per month.Available Fall 2010 from www.customerthermometer.com,[object Object]

22 really useful customer retention stats

22 really useful customer retention stats

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22 really useful customer retention stats