Here are 10 potential reasons you may be losing customers:
1. Attracting a new customer costs on average 6 to 7x more than it does to keep an existing one. (White House Office of Consumer Affairs)
2. Loyal customers are worth up to 10x as much as their first purchase. (White House Office of Consumer Affairs)
3. 48% of customers who had a negative experience shared their experience with 10 other people. (Harvard Business Review)
4. Over 80% of customer service-related tweets are complaints, most customers expect a reply in less than an hour. (Touch)
5. 78% of customers have abandoned an intended purchase due to a poor experience. (American Express)
6. After experiencing one unresolved negative experience It can take 12 positive experiences to make up for it. (Ruby Newell-Legner)
7. 70% of buying experiences are based on how the customer feels they are being treated by the brand. (McKinsey)
8. Customers who engage with companies over social media are more likely to spend between 20 to 40% more money than other customers. (Bain & Company)
9. A whopping 89% of consumers will move to a competitor following a poor customer experience. (RightNow)
10. Consumers are twice as likely to share a bad customer service experience than they are a positive one. (American Express)
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