the importance of customer loyalty
TRANSCRIPT
It’s all in the numbers!
CUSTOMER LOYALTY
LET’S JUMP STRAIGHT IN WITH THE STATS…
On average, loyal customers are worth up to 10 times as much
as their first purchase.
On average, loyal customers are worth up to 10 times as much
as their first purchase.
9 in 10 are willing to spend more with companies they believe provide excellent customer service.
Source: RightNow Customer Experience Impact Report
FOR EVERY CUSTOMER THAT COMPLAINS ANOTHER 26 REMAIN SILENT. Source: helpscout.net
It costs 5 times more to acquire new customers than it does to keep current ones.
Source: Forrest Research
Current customer
New customer
5-20%
Source: Marketing Metrics
probability of selling to a new
prospect…
5-20%
Source: Marketing Metrics
probability of selling to a new
prospect…
60-70% probability of selling to an
existing prospect.
But you’ll
have
NEWS OF BAD CUSTOMER SERVICE REACHES MORE THAN TWICE AS
MANY EARS AS PRAISE FOR A GOOD SERVICE EXPERIENCE.
Source: White House Office of Consumer Affairs
Address an unhappy
customer’s situation as
it’s worth keeping their
business and avoiding
negative word of mouth.
Top tip
REDUCING CUSTOMER CHURN BY 5% CAN INCREASE PROFITS BY AT LEAST 25%.
Source: Leading on the Edge of Chaos
80% OF YOUR COMPANY’S FUTURE WILL COME FROM
JUST 20% OF YOUR EXISTING CUSTOMERS…
Source: Gartner
AND 80-90% OF NEXT YEAR’S REVENUE WILL
COME FROM YOUR EXISTING CUSTOMERS.
Almost 70% of the reasons why customers leave have nothing to do with the product…
Almost 70% of the reasons why customers leave have nothing to do with the product…
It‘s because of poor quality service.
Source: Forum Corporation Research
RESOURCES…
1. Increasing customer loyalty with CRM software
2. How to beat the ‘Big boxes’
3. 6 steps to driving customer loyalty in theautomotive industry
To help you impr
ove
customer loyalty!
