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1) Happy customers are a lot more likely to tell their friends
On average, happy customers tell nine people about their experiences with a company.
2) But a single unhappy customer often means that there are many more
For every customer who complains, there are 26 customers who dont say anything.
Often, theyll simply get fed up and leave. Thats why customers who complain are giving you an extraordinarily valuable gift: insight into whats probably making many more customers unhappy than just the person who chose to tell you about it..
3) Making existing customers happy can help you sell more than finding new customers
When it comes to sales, the probability of selling to an existing happy customer is up to 14x higher than the probability of selling to a new customer.
Many people think that the only way to grow their business is to find new customers. But often, the best source for growth is sitting right in front of you: existing customers. You just have to make them happy, and then find ways to deliver more value to them..
4) In fact, retention is the most surefire way to improve your bottom line
Businesses that grow their customer retention rates by as little as 5% typically see profit increases ranging from 25% to 95%..
5) If youre known for good customer service, you can charge more
86% of customers will pay more for a better customer experience.
With excellent customer service seeming more rare these, customers are willing to pay a premium for it. Deliver on that desire, and your customers will be happy to pay higher prices..
6) But if you dont deliver great support, your customers will leave
82% of customers have left a company because of a bad customer service experience..
7) When you screw up, dont forget to apologize
37% of customers are satisfied with service recovery when they are offered something of monetary value (e.g., a refund or credit). But when the business adds an apology on top of the compensation, satisfaction doubles to 74%.
by Leslie Groene of Groene Consulting
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