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Customer Success Statistics

Metaphor’s customer engagement capabilities provide organizations with a wide range of value across the entire customer lifecycle – from acquisition, to ongoing service and satisfaction, through retention. Below are some data points that shed some light on the value of quality customer engagement.

Facts about Satisfaction and Loyalty

• A typical business hears from only about 4% of its dissatisfied customers — 96% just go away … and 91% will never come back.
• A dissatisfied customer will tell 9-15 people about a specific negative experience.  And approximately 13% of dissatisfied customers will tell more than 20 people about the problem they had.
• It takes 12 positive service incidents to make up for one negative incident.
• 70% of complaining customers will do business with you again if you resolve the complaint in a timely and positive manner.
• Almost 70% of the identifiable reasons why customers left typical companies had nothing to do with the core offering. The prevailing reason for switching was poor quality of service.
• On average, each one of your customers has a circle of influence of 250 people or potential customers who hear what that customer thinks of your company.
• Prospects referred by satisfied customers are more than 60% more likely to convert to customers than prospects found through other means.

Facts about Retention

• It costs five to six times as much to get a new (first time) customer as it does to keep a current one.
• Long term customers are usually more profitable.  A 5% increase in customer retention can boost profit by 25% to 125%.
• The probability of selling service to a new customer is 1 in 16, while the probability of selling service to a current customer is 1 in 2.
• It's easier to get present customers to buy 10 percent more than to increase your customer base by 10 percent.

Resources

Key Resources

• A New Model for Customer EngagementLearn about the 6 steps every company needs to take for effective customer engagement.
• Customer Success StatisticsHow effective engagement helps you get and keep more customers.
• Special Technology Initiative?Tell us more about your project.