15 Retention Marketing Stats To Make You Do It Well

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retention-stats_dsim

  1. The probability of selling to an existing customer is 60-70%. The probability of selling to a new prospect is 5-20%.
  2. 80% of your future profits will come from just 20% of your existing customers.
  3. 65% of a company’s business comes from existing customers.
  4. 32 % of executives say retaining existing customers is a priority.
  5. 27% of small business owners estimate that 11-20% of first-time customers don’t return to their business.
  6. 80% of businesses surveyed rely on email marketing for customer retention.
  7. 5% increase in customer retention can increase business profits by 25% – 125%.
  8. It costs 5%more to acquire a new customer than it does to keep a current one.
  9. Repeat customers spend 33% more than new customers.
  10. 82% of companies agree that retention is cheaper to execute than acquisition.
  11. 61% of customers take their business to a competitor when they end a business relationship.
  12. 81% of customers are more likely to continue doing business with brands that offer loyalty programs.
  13. 71% of customers have ended their relationship with a company due to poor customer service.
  14. Globally, the average value of a lost customer is $243.
  15. 63% of marketers felt that new customer acquisition is the most important advertising goal.
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