If you treasure your customers, love your customers, and seek to understand what really makes their experience with your company top-notch and unforgettable--then you can keep them...FOREVER.
At FYI, we know building a business on responsiveness with a customized delivery of services is critical. We always try to exceed expectations, but we aren't above reminding ourselves of what really matters, so that we can serve our clients better every day.
Here are some facts we've gathered*, and the rules we remind ourselves of and live by daily.
Here are some facts we've gathered*, and the rules we remind ourselves of and live by daily.
We're serious when we say reading these will make you want to hug a customer, soon.
1. Unhappy customers? 96% of them don’t even complain. That’s
because 91% will just leave and never come back.
2. How a customer feels they’re being treated is what 70% of buying experiences are based upon.
3. Being transferred to another representative? Not good. 94% of customers don’t want to be transferred more than one time.
4. Better know what you’re talking about—or have it in front of you. If a rep doesn’t have account info immediately at hand? 84% of customers get frustrated.
5. Customers rating you a “5” on a 1 to 5 scale are six times more likely to buy again than a customer dishing out a 4.8 rating.
6. One bad experience requires 12 positive experiences to make up for it.
7. Acquiring a new customer costs six to seven times more than retaining a current customer.
8. A service related problem is four times more likely to drive a customer to a competitor than price or product related problems.
.
9. There’s a 60-70% probability of selling to a current customer. There’s a 5-20% probability of selling to a new prospect.
10. There are 26 unhappy customers who haven’t said anything for every one customer who complains.
11. An increase of 2% in customer retention has the same impact as a 10% decrease in overhead.
12. Customer retention receives only 12% of current marketing budgets.
2. How a customer feels they’re being treated is what 70% of buying experiences are based upon.
3. Being transferred to another representative? Not good. 94% of customers don’t want to be transferred more than one time.
4. Better know what you’re talking about—or have it in front of you. If a rep doesn’t have account info immediately at hand? 84% of customers get frustrated.
5. Customers rating you a “5” on a 1 to 5 scale are six times more likely to buy again than a customer dishing out a 4.8 rating.
6. One bad experience requires 12 positive experiences to make up for it.
7. Acquiring a new customer costs six to seven times more than retaining a current customer.
8. A service related problem is four times more likely to drive a customer to a competitor than price or product related problems.
.
9. There’s a 60-70% probability of selling to a current customer. There’s a 5-20% probability of selling to a new prospect.
10. There are 26 unhappy customers who haven’t said anything for every one customer who complains.
11. An increase of 2% in customer retention has the same impact as a 10% decrease in overhead.
12. Customer retention receives only 12% of current marketing budgets.
So, now you’ve read the facts—why not get the data? FYI
data. Provided by the leading experts in entertainment data and rich media
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Delivered with customer service that’s as timely and
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*ATTRIBUTIONS: 1. 1st Financial Training Services. 2. McKinsey & Company. 3. Mobius Poll 2002. 4. Mobius Poll 2002. 5. Telefaction Data Research. 6. "Understanding Customers" by Ruby Newell-Legner. 7. Bain & Company. 8. Bain & Company. 9. Marketing Metrics. 10. Lee Resource. 11. "Leaning on the Edge of Chaos" by Emmet Murphy & Mark Murphy. 12. McKinsey & Company.
*ATTRIBUTIONS: 1. 1st Financial Training Services. 2. McKinsey & Company. 3. Mobius Poll 2002. 4. Mobius Poll 2002. 5. Telefaction Data Research. 6. "Understanding Customers" by Ruby Newell-Legner. 7. Bain & Company. 8. Bain & Company. 9. Marketing Metrics. 10. Lee Resource. 11. "Leaning on the Edge of Chaos" by Emmet Murphy & Mark Murphy. 12. McKinsey & Company.
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