18 Customer Statistics every business needs to know!
Every interaction with a customer has with your organization is an opportunity to build loyalty, or a chance to lose it.
Points to consider and gaining success with DWCRM:
- It costs 6 times more to attract a new customer than it does to keep an old one – Understanding Customers by Ruby Newell-Legner
- 89% of Consumers purchase from a competitor following a poor customer experience – Harris Interactive, 2011 Customer Experience Improvement study
- Only about 4% of dissatisfied customers complain. 96% just go away. Harris Interactive, 2011 Customer Experience Improvement study
- 50% of Consumers give a brand one week to respond to a service concern before they stop doing business with them. – Harris
- Only 37% of Brand received “excellent” or “Good” customer experience scores this year – Harris
- Only 1% of consumers say expectations for good customer experience are always met – Harris
- US Businesses lose an estimated $83 Billion in sales annually due to poor customer experiences – Parature Customer Service Blog
- Americans typically tell 24 people about negative customer service, they only tell about 15 people about positive experiences – 2012 American Express Global Customer Service Barometer
- A 5% increase in customer retention increases profits up to 125% – Bain & Company
- Probability of selling to an existing customer: 60-70%, Probability of selling to a new one: 5-20% – Marketing Metrics
- A 2% increase in customer retention has the same effect as decreasing costs by 10% – Leading on the edge of chaos, Emmet Murphy and Mark Murphy
- Customer Loyalty can be worth 10 times as much as a single purchase – White House Office of Consumer Affairs, Washington, D.C.
- It takes 12 positive service incidents to make up for a negative one – Understanding Customers by Rudy Newell-Legner
- Customer profitability increases over the life of a retained customer – Leading on the edge fo Chaos, Emmet Murphy and Mark Murphy
- 70% of customers will do business with you again if you resolve their complaints – Understanding Customers by Rudy Newell-Legner
- 73% of Consumers love a brand because of friendly customer service – Harris Interactive, 2011 Customer Experience Improvement study
- 68% of Customers leave because they think you don’t care about them – Rockefeller Corporation
- 71% of consumers have ended their relationship with a company due to poor customer service