"Attracting a new customer cost five times as much as keeping an existing one."Source: Lee Resource Inc.
"Happy customers who have their problems resolved will tell 4-6 people about their positive experience."Source: White House Office of Consumer Affairs
"A typical business hears from 4% of its dissatisfied customers. 96% just go away, and 91% will never come back."Source: Ruby Newell-Legner
"A dissatisfied customer will tell between 9-15 people about their experience. About 13% of dissatisfied customers tell more than 20 people."Source: White House Office of Consumer Affairs
"86% of customers quit doing business with a company because of a bad customer experience. Up from 59% four years ago."Source: Harris Interactive, Customer Experience Impact Report
"For every customer complaint, there are twenty six other customers who have remained silent."Source: Lee Resource Inc.
"It takes twelve positive experiences to make up for one negative one."Source: Ruby Newell-Legner
"An average company loses between 10% to 30% of its customers annually."Source: McKinsey
"A customer is four times more likely to defect to a competitor if the problem is service related rather than price or product related."Source: Bain & Company
"68% of customer defection takes place because customers feel poorly treated."Source: TARP
"Why customers quit..."Source: Michael Leboeuf1% die.
3% move away.
9% leave because of competitive reasons.
14% are dissatisfied with the product.
68% because of an attitude of indifference towards the customer.
"70% of complaining customers will do business with you again if you resolve the complaint in their favor."Source: Lee Resource Inc.
"95% of customers will do business with you again if you resolve the complaint immediately."Source: Lee Resource Inc.
"Even in a negative economy customer experience is a high priority for consumers with 60% often or always paying more for a better experience."Source: Harris interactive, Customer Experience Impact Report
"A 5% increase in customer retention can increase profits by 5% to 95%."Source: Bain & Company
"The probability of selling to an existing customer is 60% to 70%. The probability of selling to a new prospect is 5% to 20%."Source: Marketing Metrics
"A 2% increase in customer retention has the same effect as decreasing cost by 10%."Source: Emmet & Mark Murphy
"Reducing customer defections can boost profits by 25% to 85%. In 73% of cases the organization made no attempt to persuade dissatisfied customers to stay, even though 35% said a simple apology would have prevented them from moving to the competition."Source: NOP
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"Customer loyalty is worth 10X the price of a single purchase."Source: Ruby Newell-Legner
"The top three drivers for investing in customer experience management are."Source: Aberdeen Report, Customer Experience Management: Engaging loyal customer to evangelize you brand.1- Improve customer retention 42%
2- Improve customer satisfaction 33%
3- Increase cross selling and upselling 23%
"81% of companies with strong capability and competency for delivering customer experience excellence are outperforming their competition."Source: Peppers & Rogers Group
"70% of experienced customer management teams (best in class) used customer feedback to make decisions.Source: Aberdeen Report
"50% of average teams use customer feedback."
Not surprisingly only "29% of laggards do."
"55% of current marketing spending is on customer acquisition. Only 12% is spent on customer retention."Source: McKinsey
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