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Customer Retention Statistics Video

Customer Retention Statistics Video

Here is a comprehensive listing of Customer Retention Statistics in a video format. My favourite speaker, Jeffrey Gitomer has an audio clip attached for interesting reading and listening at the same time.

1. Attracting a new customer costs 5 times as much as keeping an existing one.
• Source: Lee Resource Inc.

2. Happy customers who have their problems resolved will tell 4-6 people about their positive experience.
• Source: the White House Office of Consumer Affairs, Washington, DC.

3. A typical business hears from only about 4% of its dissatisfied customers. 96% just go away and 91% will never come back.
• Source: “Understanding Customers” by Ruby Newell-Legner

4. A dissatisfied consumer will tell between 9 and 15 people about their experience. About 13% of dissatisfied customers tell more than 20 people.
• Source: White House Office of Consumer Affairs, Washington, DC

5. 86% of consumers quit doing business with a company because of a bad customer experience, up from 59%4 years ago
• Source: Harris Interactive, Customer Experience Impact Report

Watch this video for more statistics and a audio clip from Jeffrey Gitomer:

If you would like to know more about how the ASK LISTEN RETAIN System or how it can help create customer retention and loyalty, please contact us.