Customers have high expectations for positive experiences but companies often fail to meet them, as only 1% of customers feel their needs are always met. A single bad experience can cause customers to stop doing business with a company, and it takes 12 good experiences to make up for one negative one. This churn is costly, as it is 7 times more expensive to acquire new customers than retain existing ones. Improving the customer experience leads to significant financial benefits though, as lowering attrition rates by 5% can increase profits by up to 95%, and raising customer satisfaction scores by 10% can result in an additional $1 billion in revenue for large companies.

1. Sources:
1
slideshare.net/RightNow/2011-customer-experience-impact-report 2
parature.com/infographic-financialcustserv 3
McKinsey
4
White House Office of Consumer Affairs 5
Forrester, The Business Impact of Customer Experience 6
Bain & Company
The importance of a positive customer experience
1%
of customers feel that their customer experience expectations are always met1
89%
of customers stop doing business with a company after a bad experience1
It costs up to7xmore
to acquire new customers
than retain current ones4
The average company loses up to
30%
of their customers
each year3
86%
of customers are willing to pay up to 25% more for a better experience1
The high cost of churn
negative experience takes
12 good experiences
to make up for it2
One
Positive business impact
Companies
who lower
their
customer
attrition
rates
5%
Raise
company
profits by
up to
95%
6
Enterprise
companies
who raise
their
customer
experience
score by
10%
Realize
additional
revenue of
$1
billion5
Increase
their value
30%
6
Companies
who raise
their
customer
retention
rate
10%