KEEPING THE CUSTOMER SATISFIED...

This is pinned to the wall by my desk. I thought I'd share it with you.

FOOD FOR THOUGHT

98% of dissatisfied customers never complain  they just leave.

85% of dissatisfied customers tell nine people about their poor experience, and 13% tell twenty people.

A satisfied customer tells just five people.

Over five years, a typical company loses 80% of its customers; 65% due to a negative experience with the company.

75% of the reasons a customer leaves a company have nothing to do with the product.

A 5% retention rate will increase profits from 25% to 55%

The top five businesses in any industry have over 90% customer retention, but most businesses average 80%.

For every 1% improvement in customer rate sustained over five years, there is a 20% improvement in operating income.

The #1 reason why customers switch companies is that they don't feel appreciated.

 

Thanks for reading


Ron Harper--February '04

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