You know your customers are important. But with so much pressure riding on securing new business — not to mention the differing priorities between your marketing, sales, and customer service teams — it can be hard to ensure that customer retention is always a top priority?for everyone.
A few things to keep in mind: when it comes to continuing their business with your company, your customers are more likely to stick around for the following:
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friendly employees and customer service reps
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the chance to work with a brand that has a good reputation
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easy-to-access information or help.
But even if you’re providing all of the above, it only takes one wrong move to see a customer go from “good standing” to “goodbye.” To help prevent your customers from slipping off your to-do list, we’ve assembled a few eye-opening customer service stats that any B2B company can learn from. So take a look, pick out a few of your favorite customer-centric stats, and share them with your networks!
86% of buyers will pay more for a better customer experience. But only 1% of customers feel that vendors consistently meet their expectations. (CEI Survey)
By 2020, customer experience will overtake price and product as the key brand differentiator. (Customers 2020 Report)
In 2013, 62% of global consumers switched service providers due to poor customer service experiences, up 4% from the previous year. (Accenture Global Consumer Pulse Survey)
It is 6-7 times more costly to attract a new customer than it is to retain an existing customer. (White House Office of Consumer Affairs)
89% of consumers have stopped doing business with a company after experiencing poor customer service. (RightNow Customer Experience Impact Report)
It takes 12 positive customer experiences to make up for one negative experience. (Parature)
70% of buying experiences are based on how the customer feels they are being treated. (McKinsey)
A 10% increase in customer retention levels result in a 30% increase in the value of the company. (Bain & Co)
90% of respondents who recalled reading online reviews claimed that positive online reviews influenced buying decisions, while 86% said buying decisions were influenced by negative online reviews. (Dimensional Research)
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