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:

1. It costs 6 times more to attract a new customer than it does to keep an old one – Understanding Customers by Ruby Newell-Legner
2. 89% of Consumers purchase from a competitor following a poor customer experience – Harris Interactive, 2011 Customer Experience Improvement study
3. Only about 4% of dissatisfied customers complain.  96% just go away.  Harris Interactive, 2011 Customer Experience Improvement study
4. 50% of Consumers give a brand one week to respond to a service concern before they stop doing business with them.  – Harris
5. Only 37% of Brand received “excellent” or “Good” customer experience scores this year –  Harris
6. Only 1% of consumers say expectations for good customer experience are always met – Harris
7. US Businesses lose an estimated $83 Billion in sales annually due to poor customer experiences – Parature Customer Service Blog
8. 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
9. A 5% increase in customer retention increases profits up to 125% – Bain & Company
10. Probability of selling to an existing customer:  60-70%, Probability of selling to a new one: 5-20% – Marketing Metrics
11. 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
12. Customer Loyalty can be worth 10 times as much as a single purchase – White House Office of Consumer Affairs, Washington, D.C.
13. It takes 12 positive service incidents to make up for a negative one – Understanding Customers by Rudy Newell-Legner
14. Customer profitability increases  over the life of a retained customer – Leading on the edge fo Chaos, Emmet Murphy and Mark Murphy
15. 70% of customers will do business with you again if you resolve their complaints – Understanding Customers by Rudy Newell-Legner
16. 73% of Consumers love a brand because of friendly customer service – Harris Interactive, 2011 Customer Experience Improvement study
17. 68% of Customers leave because they think you don’t care about them – Rockefeller Corporation
18. 71% of consumers have ended their relationship with a company due to poor customer service