18 Customer Facts Marketers Can’t Ignore

Saw this on Branding Strategy Insider and thought you’d find it intersting – I did!

It comes from The Ritz-Carlton. I’ll give you a few here and then you can click on to read the whole story.

  • It costs 6 times more to attract a new customer than it does to keep an old one.
  • 89% of Consumers purchase from a competitor following a poor customer experience.
  • 50% of Consumers give a brand one week to respond to a service concern before they stop doing business with them.
  • US Businesses lose an estimated $83 Billion in sales annually due to poor customer experiences.
  • Probability of selling to an existing customer:  60-70%, Probability of selling to a new one: 5-20%
  • Customer Loyalty can be worth 10 times as much as a single purchase.
  • It takes 12 positive service incidents to make up for a negative one.

Click HERE to read the full article

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