We’ve all heard it before: it costs more to bring a new customer onboard than it does to retain a current customer. But it never hurts to be reminded.
And this wonderful infographic from Visual.ly—”A Customer Saved is a Penny Earned”—lays out the facts:
- 80% of businesses believe their customer service is “superior”—but only 8% of their customers agree. (Ouch!)
- 55% of customers backed out of a transaction based on a poor service experience, and 24% of the 35% who lost their tempers at a customer service rep took to the social media to publicize their disgruntlement. (Double ouch!)
- 66% of customers are willing to spend more with a company that treats them right.
These figures are incredibly potent. According to the infographic, what they all add up to is that “it costs five times as much to acquire new customers as it does to keep those you already have.”
Though I’ve taken AT&T to task in the past, I’ve got to say that my last experience was stellar. Both reps were patient, knowledgeable, and friendly. Folks, it doesn’t get any better than that.
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