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22 really useful customer retention stats

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22 really useful customer retention stats from across the web covering customer retention, customer service, customer feedback, customer profitability and more.

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22 really useful customer retention stats

  1. 1. 22 really useful customer retention stats<br />
  2. 2. 68% of customers leave you because they perceive you are indifferent to them<br />http://www.retentionofcustomers.com/Customer_Retention_Ideas_Report_DC_Version.htm<br />
  3. 3. 93% of adult Americans said that a company’s reputation for honesty & fairness is extremely important to them<br />Gallup poll for the Better Business Bureau 2007<br />
  4. 4. Companies that prioritize the customer experiencegenerate 60% higher profitsthan their competitors<br />Sources; Gartner Group and “Leading on the Edge of Chaos”, Emmett C. Murphy and Mark A. Murphy<br />
  5. 5. 50% of people emphasise the convenience of electronic interaction over face-to-face<br />http://www.emarketer.com/Article.aspx?R=1007395<br />
  6. 6. 281 million pages featuring “customer service” ranked by Google<br />Google results for 8/7/2010<br />
  7. 7. 86% of US & European consumers say their trust in corporations has declined over the last 5 years<br />Cited in “A Complaint is a Gift” <br />
  8. 8. 1.17m pages featuring “customer complaints” in 2007. <br />3.36m pages featuring “customer complaints” in 2010<br />Google results for 8/7/2010<br />
  9. 9. 43% of people feel less inhibited about complaining once they get online<br />http://www.emarketer.com/Article.aspx?R=1007395<br />
  10. 10. satisfied customers tell 9 people how happy they are<br />dissatisfied customers tell 22 people about their bad experiences<br />http://www.allbusiness.com/sales/customer-service/1096122-1.html<br />
  11. 11. A commitment to customer experience results in up to 25% more customer retention and revenuethan sales or marketing initiatives<br />Sources; Gartner Group and “Leading on the Edge of Chaos”, Emmett C. Murphy and Mark A. Murphy<br />
  12. 12. 1134 retweets and 3,000+ backlinks<br />(and counting!)<br />of an airline passenger complaint letter, republished by the Telegraph newspaper <br />http://www.telegraph.co.uk/travel/travelnews/4344890/Virgin-the-worlds-best-passenger-complaint-letter.html<br />
  13. 13. A 5% increase in customer retention can increase business profits by25% - 125%<br />Sources; Gartner Group and “Leading on the Edge of Chaos”, Emmett C. Murphy and Mark A. Murphy<br />
  14. 14. 80% of your future profitswill come from just 20% of your existing customers<br />Sources; Gartner Group and “Leading on the Edge of Chaos”, Emmett C. Murphy and Mark A. Murphy<br />
  15. 15. Repeat customers spend 33% more than new customers<br />Laura Lake<br />
  16. 16. the average dissatisfied customer will tell 11 <br />others about their experience<br />The Sydney Entrepreneur Centre<br />
  17. 17. Research shows that for everycenta company spends on improved customer service they see a return on investment of 34% to a massive 400%<br />www.sarocks.co.za<br />
  18. 18. 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<br />www.sarocks.co.za<br />
  19. 19. 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<br />www.sarocks.co.za<br />
  20. 20. When MBNA halvedits defection rate, profits rose a whopping 125%<br />http://www.ncbi.nlm.nih.gov/pubmed/10107082<br />
  21. 21. A 5% increase in customer retention can increase a company's profitability by 75%<br />http://www.bain.com/bainweb/Consulting_Expertise/capabilities_detail.asp?capID=102<br />
  22. 22. 62% of service execs have compensation tied to loyalty scores<br />Twitter @KnowledgeBishop<br />
  23. 23. 80% of companies believe they deliver a superior customer experience, but only 8% of their customers agree<br />Bain & Company from Harvard Management Update<br />
  24. 24. 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<br />

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