15 Statistics That Should Change The Business World But Haven’t
https://www.linkedin.com/pulse/20130604134550-284615-15-statistics-that-should-change-the-business-world-but-haven-t
Here are my (author’s) top 15 favourite stats from this list:
1. Price is not the main reason for customer churn, it is actually due to the overall poor quality of customer service Accenture global customer satisfaction report 2008.
2. 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.
3. The probability of selling to an existing customer is 60 70%. The probability of selling to a new prospect is 5-20% Marketing Metrics.
4. For every customer complaint there are 26 other unhappy customers who have remained silent Lee Resource.
5. 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.
6. 96% of unhappy customers dont complain, however 91% of those will simply leave and never come back 1Financial Training services.
7. 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.
8. Happy customers who get their issue resolved tell about 4-6 people about their experience. White House Office of Consumer Affair.
9. 70% of buying experiences are based on how the customer feels they are being treated McKinsey.
10. 55% of customers would pay extra to guarantee a better service Defaqto research.
11. Customers who rate you 5 on a scale from 1 to 5 are six times more likely to buy from you again, compared to only giving you a score of 4.8. TeleFaction data research.
12. It takes 12 positive experiences to make up for one unresolved negative experience Understanding Customers by Ruby Newell-Legner.
13. A 5% reduction in the customer defection rate can increase profits by 5 95% Bain & Company.
14. It costs 67 times more to acquire a new customer than retain an existing one Bain & Company.
15. eCommerce spending for new customers is on average $24.50, compared to $52.50 for repeat customers McKinsey.
Good to keep in mind.
Someone at NFL Headquarters needs to read that list.