Over the next few months I'm going to be sharing some interesting facts about customer service, customer loyalty, customer satisfaction and customer retention. Here are my first five interesting facts, including the source. The next five facts will be posted on this site next week.
1. Price is not the main reason for customer churn. The main reason is actually poor customer service. (Accenture).
2. A customer is four times more likely to defect to a competitor if they have a problem that is service-related, rather than if the problem is price/product-related. (Bain and Company).
3. The probability of selling to an existing customer is 60 - 70%. The probability of selling to a new prospect is only 5 - 20% (Marketing Metrics).
4. For every customer complaint there are an average of 26 other unhappy customers who remain silent. (Lee Resource).
5. 96% of unhappy customers don’t complain at all. 91% of them will simply leave and never come back. (1 Financial Training Services).