CUSTOMER EXPERIENCE & SERVICE FACTS

 

  • For every customer complaint, there are 26 other unhappy customers who have remained silent – Lee Resource

  • 96% of unhappy customers don’t complain, however 91% of those will simply leave and never come back – 1st Financial Training services

  • A dissatisfied customer will tell between 9-15 people about their experience. Around 13% of dissatisfied customers tell more than 20 people. – White House Office of Consumer Affairs

  • Happy customers who get their issue resolved tell about 4-6 people about their experience. – White House Office of Consumer Affairs

  • An unhappy customer will become a loyal consumer if you fix his complaint and do it quickly. Eighty percent (80%) of these folks will come back to you if you've treated them fairly. That percentage rises to the upper 90s if you respond immediately

  • A customer is 4 times more likely to defect to a competitor if the problem is service related than price or product related – Bain & Company

  • 70% of buying experiences are based on how the customer feels they are being treated – McKinsey

  • 55% of customers would pay extra to guarantee a better service – Defaqto research

  • Price is not the main reason for customer complaints, it is actually due to the  overall poor quality of customer service – Accenture global customer satisfaction report 2008

  • Customer who rate you 5 on a scale from 1 to 5 are six times more likely to buy from you again, as to if they ‘only’ gave you a score of 4.8. – TeleFaction data research

  • It takes 12 positive experiences to make up for one unresolved negative experience – “Understanding Customers” by Ruby Newell-Legner

  • It costs 6 – 7 times more to acquire a new customer than retain an existing one – Bain & Company

  • An average company loses between 10 – 30% of its customers annually – McKinsey

  • Dissatisfied customers whose complaints are taken care of are more likely to remain loyal, and even become advocates, as those that are ‘just’ customers – Strauss & Seidel

  • The probability of selling to an existing customer is 60 – 70%. The probability of selling to a new prospect is 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 & Mark Murphy

  • Customer profitability tends to increase over the life of a retained customer – Leading on the Edge of Chaos, Emmet Murphy & Mark Murphy

  • Research shows that a 10% increase in customer retention levels result in a 30% increase in the value of the company – Bain & Co.

  • 76% of companies motivate employees to treat customers fairly, and 62% provide effective tools and training to gain trust with their customers – Peppers and Rogers Group, 2009 Customer Experience Maturity Monitor

  • 81% of companies with strong capabilities and competencies for delivering customer experience excellence are outperforming their competitors – Peppers and Rogers, 2009 Customer Experience Maturity Monitor

  • Even in a negative economy, customer experience is a high priority for consumers, with 60% often or always paying more for a better experience. – Harris Interactive, Customer Experience Impact Report

  • 85% of business leaders agree that traditional differentiators alone are no longer a sustainable business strategy – Shaw & Ivens

  • 71% of business leaders believe that customer experience is the next corporate battleground – Shaw & Ivens

  • 55% of current marketing spend is on new customer acquisition – McKinsey

  • 33% of current marketing spend is on brand awareness – McKinsey

  • Only 12% of current marketing spend is on customer retention – McKinsey

  • The top three drivers for investing in customer experience management are:

    • 1. Improve customer retention – (42 %)

    • 2. Improve customer satisfaction – (33 %)

    • 3. Increase cross-selling and up-selling (32 %)

                   Source: Aberdeen report – Customer Experience Management: Engaging Loyal Customers to Evangelize Your Brand

 

powered by iTrueReview LLC 

  • Facebook Basic
  • Twitter Basic
  • Google+ Basic Black
  • LinkedIn Basic Black
  • Tumblr Basic Black
  • YouTube Basic Black
  • Instagram Basic Black
  • Pinterest Basic

FOLLOW US

© 2014 Powered by  iTrueReview LLC