22 really useful customer

retention stats
68% of customers
leave you because
they perceive you are
indifferent to them
http://www.retentionofcustomers.com/Customer_Retention_Ideas_Report_DC_Version.htm
93%
of adult Americans said that a companys
reputation for honesty & fairness is extremely
important to them
Gallup poll for the Better Business Bureau 2007




Companies that prioritize
the customer experience
generate
60% higher profits
than their competitors
Sources; Gartner Group and Leading on the Edge of Chaos, Emmett C. Murphy and Mark A. Murphy
50%
of people emphasise the convenience of
electronic interaction over face-to-face
http://www.emarketer.com/Article.aspx?R=1007395

281 million
pages featuring customer service ranked by
Google
Google results for 8/7/2010

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

1.17m pages featuring customer
complaints in 2007.

3.36m pages featuring customer
complaints in 2010
Google results for 8/7/2010


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


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

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

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

A 5% increase
in customer retention can increase business
profits by
25% - 125%
Sources; Gartner Group and Leading on the Edge of Chaos, Emmett C. Murphy and Mark A. Murphy
80% of your future profits
will 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


Repeat customers
spend 33% more
than new customers
Laura Lake


the average dissatisfied customer will tell
11
others about their experience
The Sydney Entrepreneur Centre
Research shows that for every
cent
a company spends
on improved customer service
they see a return on investment of
34% to a massive
400%
www.sarocks.co.za


6075%
of customers will do business
with a company again if it deals with a
customer service issue fairly
even if the result is not in their favour
www.sarocks.co.za


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

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


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
62%
of service execs have compensation tied to
loyalty scores
Twitter @KnowledgeBishop
80% of companies believe they deliver a
superior customer experience, but only
8%
of their customers agree

Bain & Company from Harvard Management Update
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