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10 Facts about Customer Loyalty. (You may be surprised by Number 9)

  1. Price is not the main reason for loss of customer – it is poor customer service.
  2. A customer is 4x more likely to defect to a competitor if a problem is service-related, than price/product-related.
  3. The probability of selling to an existing customer is 60 – 70%. The probability of selling to a new prospect is 5-20%.
  4. For every customer complaint there are an average of 26 other unhappy customers who have remained silent.
  5. 96% of unhappy customers don’t complain at all. 91% of them will simply leave and never come back.
  6. A dissatisfied customer will tell on average 9 – 15 people about their experience. Around 13% of dissatisfied customers tell more than 20 people.
  7. Customers who get their issue resolved tell about 4 – 6 people about their experience.
  8. 70% of buying experiences are based on how the customer feels they are being treated.
  9. 55% of customers say would pay extra to guarantee a better service.
  10. It costs 6 – 7 times more to acquire a new customer than retain an existing

With thanks to Darren Bugg, Management Consultant and Chairman, Yorkshire Managers group

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