5 Key Customer Retention Statistics

To grow, businesses can`t rely exclusively on their existing customer base.

However, businesses shouldn`t take existing customers for granted.

Here are 5 Stats that show why maintaining

High customer retention is essential!

1. 65% of a company`s business comes from existing customers

Nearly two thirds of an average business`s revenue is generated

business`s revenue is generated by customers they already have

2. Improving customer retention rates by 5%

Can increase profits by as much as 95%

A 5 percent increase in customer retention was shown

to grow profits 25 to 95 percent.

3. It costs 5 times more to find a new customer than

to keep an existing one.

The cost associated with acquiring new customers can range

from 4 to 7 times more than the cost of retaining customers.

4. 61% of customers take their business to a competitor

when they end a business relationship

When a business loses a customer, the former customer 

will likely defect to a competitor.

5. The average business loses around 20% of its customers

annually by failing to attend to customer relationships.

Each year, businesses lose millions of customers 

due to poor relationships. 

Building customer relationships, especially in a B28 setting, 

is a key factor in maintaining high customer retention rates.

'Treat your employees, the same way

You want them to treat your customers'

....................

We are God' Perfect Creation

Beautiful of all worlds

Damiequotes