You want to increase customer retention? Naturally—as it’s exceedingly rare for a business to turn down repeat business. It’s easier said than done, however, so why not avail yourself of the following—juicy retention statistics that will help you gain an edge in your planning? Here’s what you should know about how repeat customers like to do business and how it can affect your business in both the short and long term, courtesy of the Semrush Blog:
77% of brands aren’t making a lasting impression. According to data from Havas Group, more than three quarters of all brands could disappear, and customers wouldn’t even bat an eyelash. This means that most brands aren’t really connecting with their intended audiences, and the loyalty that truly drives repeat purchasing isn’t there.
65% of consumers believe that a positive experience is worth more than great advertising, and 64% say that a bad employee attitude can shatter their trust in a brand. So, your marketing may get them through the door, but the experience while they’re making that eventual purchase is what makes (or breaks) the deal. Speaking of which…
34% of customers will stop buying from you after a single negative experience. In case you were wondering just how much those purchasing experiences mattered. Poor service is a business killer, and if you aren’t distinguishing yourself here, you may as well be handing sales to your competitors on a silver platter. As if that wasn’t bad enough…
62% of customers who have a bad experience will share that bad experience with people they know. They might even blast the details on social media, giving prospective customers pause.
83% of customers prefer humans—rather than bots and machines—to help them out. Not saying bots don’t have their place, but when it comes to service issues there’s a strong preference for the “genuine article” over artificial assistance.
48% of all customers will leave your website and purchase from a competitor if your site is difficult to navigate. So, if you were thinking that the online experience wasn’t all that important, think again. Make sure they can find what they need without the hurdles.
57% of potential customers will refuse to recommend your business website to their friends and associates if it doesn’t have an optimized mobile counterpart, and 53% will simply bail on your site if it takes more than three seconds to load. This shows that catering to smartphone surfers is just as important as pleasing everyone else.
Now, at this point, keeping customers satisfied might seem like a lot of work. It is, but the payoff is well worth it, as these statistics show:
41% of customers will pay upwards of 20% more for goods and services with a positive customer experience attached. Meaning, that if you treat customers right, you can actually make more money than you would otherwise. Furthermore…
77% of consumers have forged multi-year relationships, which are primarily based on those positive experiences, which in turn, keep them coming back and spending more money.
So, bottom line, treat your customers right, and retention is something that will fall in place more naturally. Remember that next time you’re brainstorming ideas for how you’re going to drum up that juicy repeat business!