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Fastest Way to Lose Customers

Any business owner will tell you that retaining your customers is low-hanging fruit. Understanding how to create loyal customers so you can retain them is one of the most important things for a business. For starters it’s critical to know the fastest ways to lose customers so you stop making these mistakes and start retaining customers. This graphic highlights the fastest ways to lose customers.

Stats You Should Tweet:

  • 9.5 minutes are spent on average trying to reach a human when trapped in an automated phone system »tweet«
  • 61% of consumers take their business to a competitor when they end a business relationship »tweet«
  • 71% of consumers have ended their relationship with a company due to poor customer service »tweet«
  • Globally, the average value of a lost customer is $243 »tweet«
  • $83 billion is the cost of poor customer service in the US »tweet«
  • Rookie mistakes on @Twitter can push a customer away »tweet«
  • 65% of Fortune 100 global companies utilize @Twitter to engage with the world »tweet«
  • Companies focus on acquisition more than customer retention, even though it can cost 7x more to acquire new customers »tweet«
  • 63% of marketers felt that new customer acquisition is the most important advertising goal »tweet«

Retaining Customers
via Get Satisfaction Blog

  1. Carole Miller May 12, 2012 at 1:38 pm

    It makes sense, and so much less costly to retain what you have than to go out and find new clients……….

  2. Thank you for sharing the study and insight.
    I help my mother with the operation of her local family own childcare business.
    I do believe that is really difficult to acquire new parents.
    There are so many competitions out there.
    We are not only competing with our own field, but also nanny, preschool and Au Pair …
    But we do value excellent customer service experience from the very beginning until the “end” … there is never end if you do it right.

    Other than, the Craigslist listing, the Google SEO, the Facebook Like, Paid Advertising Network …
    We get referrals from the parents that is much faster, easier and CHEAPER.
    That is really kind of crazy not to treat your customers well at any point.

    Just learn from Warren Buffet saying,
    Rule No. 1, Never Lose “Customer”
    Rule No. 2, Don’t Forget Rule No. 1

    Customers are always right!

  3. I think it’s safe to say…to neglect retention is a very big mistake for any company.

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