New Infographic Illustrates Importance of Customer Loyalty, Gives Tips for Fostering It

You’ve always known that repeat, long-term customers are a good thing for your business. But did you know how good?

This month we’ve gathered statistics that tell the true story of the impact customer loyalty has on a small business’s development in the SCORE Infographic, “Customer Loyalty: Winning Them Over is the Key to Growth.”

According to survey data presented visually in the infographic, 82% of small business owners said that loyal customers are the key to an enterprise’s growth. This response is supported by the facts that:

Loyal customers are worth up to 10x their first purchase

Finding a new customer is 6-7x more expensive than keeping a current one

The infographic also offers recommendations for small business owners looking to build loyalty in their client base including:

Fix Problems: Resolve complaints in the customer’s favor – 70% of the time, they will do business with you again.

Treat Them Right: 70% of buying experiences are based on how the customer feels they’re being treated.

Be Personal: Ask for and use the customer’s name.

Take their call! In the last year, 67% of customers have hung up because they could not talk to a real person.

Download this month’s SCORE infographic for statistics on how small businesses compare to large companies in terms of providing great customer service, specifically the areas of: understanding expectations, anticipating needs, thanking customers and following up.

Customer Loyalty

Bridget Weston Pollack
<div> <span style="font-size: 13px; line-height: 18.0049991607666px; text-align: justify;">Bridget Weston Pollack is the Vice President of Marketing & Communications at the SCORE Association. In this role, Bridget is responsible for all branding, marketing, PR, and communication efforts. She focuses on implementing marketing plans and strategies for the organization to facilitate the growth of SCORE’s mentoring and trainings services.</span></div> <div> <a href="http://www.score.org" target="_blank">SCORE.org</a> | <a href="http://www.facebook.com/SCOREFans" target="_blank">Facebook</a> | <a href="http://twitter.com/scorementors" target="_blank">@SCOREmentors</a> | <a href="https://www.score.org/author/Bridget-Weston-Pollack/all-posts">More from Bridget</a></div>

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
CAPTCHA
This question ensures you are a human visitor to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.