15 Statistics about customer experiences and service

I grabbed the following stats here – but cherry-picked the most interesting ones. (Presumably the original sources can be tracked down.)

Instead of focusing on what the actual number is (and whether it is completely accurate) I would suggest that there is more benefit to gain from thinking about what it means – and how that relates to your business.

1.      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

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

3.      55% of customers would pay extra to guarantee a better service – Defaqto research

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

5.      A 5% reduction in the customer defection rate can increase profits by 5 – 95% – Bain & Company

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

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

8.      The probability of selling to an existing customer is 60 – 70%. The probability of selling to a new prospect is 5-20% – Marketing Metrics

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

10.   An average of £1202 is spent on employee training  – The Chartered Institute of Personnel and Development Annual Survey

11.   85% of business leaders agree that traditional differentiators alone are no longer a sustainable business strategy – Shaw & Ivens

12.   71% of business leaders believe that customer experience is the next corporate battleground – Shaw & Ivens

13.   55% of current marketing spend is on new customer acquisition – McKinsey

14.   33% of current marketing spend is on brand awareness – McKinsey

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

Dennis @ Ganador

Customer Acquisition, Retention & Engagement by turning your Organisational IP into Marketing IQ.