Key facts you need to know about your customers

Key facts you need to know about your customers

Customers are now more demanding and more likely to complain if they are not satisfied with your business. This is due to a number of different things including better education, more sophisticated tastes, higher expectations and a greater consumer power.

You know as well as any other business owner that customers are key to businesses. But do you know these fascinating facts about your customers? Have a look below:

Losing customers can be expensive

Did you know that it is 6 times more expensive to get a new customer than it is to keep an old one? Keeping customers happy and loyal can be the to driving profits for your business.

Your customers use their voices

Don’t underestimate word of mouth as promotional tool for your business. On average, happy customers will tell 3 to 5 people about their experience with your business.  However, unhappy customers will tell 11 people on average about their bad experiences.

You can still keep customers coming back if you fix their complaints

Between 54%-70% of customers who complain will continue to be customers if their complaint is resolved to their satisfaction. A bad experience won’t necessarily keep them away, it’s how you solve it!

Reward yourself for your superior customer service

Organisations which provide superior customer service can change more, create greater profits and achieve a greater market share. This is because customers are more likely to pay for a higher price for superior customer service. So it’s in your best interest to make sure you nail it!

Do you have any important facts about customers that we’ve missed? Let us know in the comments below.

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