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The Power of Customer Retention

KAPOW LOVE YOUR CLIENTS -EVENTS→ THE POWER of CUSTOMER RETENTION WHICH IS BETTER: RETAINING CURRENT CUSTOMERS OR ACQUIRING NEW CUSTOMERS? 68% 2% 10% of customers LEAVE because they perceive that you are indifferent to them. A 2% increase in customer retention has the same effect as decreasing costs by 10% 25-125% 5% TIMES J the cost Increase in profitability Reduction in customer defection rate Depending on the industry, reducing your customer defection rate by 5% can increase your profitability by 25 to 125% Acquiring new customers can cost as much as five times more than satisfying and retaining current customers WHY THEY LEAVE Have you evaluated your customer retention rate? Do you have a plan to keep your customers? 68% 14% 9% 5% 3% 1% DISSATISFIED START WORKING PASS MOVE AWAY SEEK WITH PRODUCT WITH COMPETITION ALTERNATIVES AWAY POOR CUSTOMER SERVICE 60% Companies that prioritize the customer experience GENERATE 60% HIGHER PROFITS than their competitors. 9. Satisfied customers tell 9 people how happy they are Vs. 22 Dissatisfied customers tell 22 people about their bad experiences 80% of your FUTURE PROFITS 80% will come from 20% of your EXISTING CUSTOMERS KAPOW -EVENTS FOCUS ON WHAT YOU DO BEST and let us handle your event, all within your budget. For questions or help with custom event planning for you or your company please contact us. kapowevents.com - Info@kapowevents.com - 1.855.KAPOWUS (527.6987) @KapowChicago Facebook.com/KapowChicago SOURCES: http://www.crmplusconsulting.com/blog/bid/118494/Startling-Statistics-on-Customer-Retention-Acquisition ©2013 KAPOW EVENTS INC. ALL RIGHTS RESERVED. http://www.slideshare.net/custthermometer/22-customer-retention-stats

The Power of Customer Retention

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Since 2011, Kapow Events has been helping companies entertain their clients by planning the best event options Chicago can offer. They asked Sprk’d to create an infographic that would show just how ...

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