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

1. 22 really useful customer retention stats

2. 68% of customers leave you because they perceive you are indifferent to them http://www.retentionofcustomers.com/Customer_Retention_Ideas_Report_DC_Version.htm

3. 93% of adult Americans said that a company’s reputation for honesty & fairness is extremely important to them Gallup poll for the Better Business Bureau 2007

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

5. 50% of people emphasise the convenience of electronic interaction over face-to-face http://www.emarketer.com/Article.aspx?R=1007395

6. 281 million pages featuring “customer service” ranked by Google Google results for 8/7/2010

7. 86% of US & European consumers say their trust in corporations has declined over the last 5 years Cited in “A Complaint is a Gift”

8. 1.17m pages featuring “customer complaints” in 2007. 3.36m pages featuring “customer complaints” in 2010 Google results for 8/7/2010

9. 43% of people feel less inhibited about complaining once they get online http://www.emarketer.com/Article.aspx?R=1007395

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

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

12. 1134 retweets and 3,000+ backlinks (and counting!) of an airline passenger complaint letter, republished by the Telegraph newspaper http://www.telegraph.co.uk/travel/travelnews/4344890/Virgin-the-worlds-best-passenger-complaint-letter.html

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

14. 80% of your future profitswill come from just 20% of your existing customers Sources; Gartner Group and “Leading on the Edge of Chaos”, Emmett C. Murphy and Mark A. Murphy

15. Repeat customers spend 33% more than new customers Laura Lake

16. the average dissatisfied customer will tell 11 others about their experience The Sydney Entrepreneur Centre

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

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 www.sarocks.co.za

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 www.sarocks.co.za

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

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

22. 62% of service execs have compensation tied to loyalty scores Twitter @KnowledgeBishop

23. 80% of companies believe they deliver a superior customer experience, but only 8% of their customers agree Bain & Company from Harvard Management Update

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