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

Aliana Marino
<div> Aliana is passionate about helping small businesses thrive and getting the word out about the great work SCORE mentors do across country. </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://www.twitter.com/SCOREmentors" target="_blank">@SCOREmentors</a> | <a href="/author/aliana-marino/all-posts" target="_blank">More from Aliana</a>                   </div>

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