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5 Key Customer Retention Stats (Infographic)

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Here are 5 statistics that explain why maintaining high customer retention rates is essential for a business's long-term success.

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5 Key Customer Retention Stats (Infographic)

  1. 1. ‘ mi: -i ‘ii: -ieiiiiifliurziieiiunilriigiisiiisirgiriisweiiiziiiiimliraeia. ligvrsii'isiiravia: ii; ili_. iii1-iliié. Iui: iiii-. i I ! Ti: ".! (!l! |IlI§l§llIlg, I!lii§l(El! I§)Ti‘iil’11l! 'l! lIhl3l1lI)fi‘T! lIIl§l'i'i'! l!l~: ii9)I‘Il§l$§tilIlQNIl9lmlllI' (9-“. ',I'! l!l6£(: -ll}, l l ' 'l'. ~.i - -. ‘1'i‘'II', ‘~ ». i. ---i. ~.i= i.-, '-‘ll=1:~ ili. il‘e. ’i.7~ f*l= ‘.: ' A iii. -r~i. i . i~ii 1"’. ‘Is~girsvi'i. .’! l!l~fil‘Il§ls‘l~f‘l§4:‘w! 'l: lIl’i (; ll'. ~‘ §l: (9ll! l€l1'l§l1', i‘ mi liléil” 'e)2fl~71ilIUl . -i! i:i”uiilii; ii’ _‘ir= .i; i;i $l9l'i'I; W'sli‘. .5l! l~f‘llII§i~? ‘ls‘l‘si~fi . :l’iioiiil-‘iii’ 't= .li(f«‘-$910-TWlIl! l‘9'ilRll! lI'Il; l!§ifill‘ iIr= .iii“i-. ii, l HERE ARE 5 STATS THAT SHOW WHY MAINTAINING HIGH CUSTOMER RETENTION IS ESSENTIAL: OF A COMPANY'S BUSINESS COMES FROM EXISTING cusroiviSr2s. * Nearly two-thirds of an average business's revenue is generated ‘ “ by customers they already have. I 'l l‘ : .stel~_= .t I‘I5f'? ii"‘! "Z‘¢3If1ll‘lliliZ'DCI= I3.Malia, i 4 tr’ I'; i_u‘ity t J l‘-. — l. ’ IL , i,— L. (i; '>: ,li; )3»; ti‘/ ..le Ties ii. he i‘; aid‘/ iilliam l, -' L idusv em I M IMPROVING CUSTOMER _ RETENTION RATES BY . ’ — ' ‘ ‘ - if ‘I -_ ' T ’ CAN INCREASE PROFITS 0 at H 0 BY AS MUCH AS 0 i «_ 3 A 5 percent increase in customer retention was shown to grow profits 25 to 95 percent. 'Ti'i: *. l1li. '.l : in "am .1 ri= '. ~: irr. h rzi". -’1it‘. .i'. tr: ‘l by Ha " I’. (Znmpr "1 cili-r1 1 .11 . irliclr- pi ‘alinhiid try Hnrv. iri1 H. .: 1|"? '. ': .:i~1r: ~' ‘r‘iV: irl: irv; j Knru. ~li= .‘lr)i- J- + i vii . . + + * T F: - — S i is r; I I1’ COSTS .4 l IIVIES l‘»’lOi: ?C. . -. - TO FIND A NEW CUSTOMER THAN + + >l< TO KEEP AN EXISTING ONE. The COSK associated With acquiring new CUSIOITIEIS can range from 4 to 7 times more than the cost of retaining customers. It This !2l. ‘IV. l’Z’. lI. ‘ i; also rr'«: r". ici"i: -:l in Vil'l 53>‘; lnr Cluirlity nr: Pl"lIll’fTl ncir l‘xi: :e| l~r': :i'- . ~ _ . i (1-'5 ”. "ad, 0:: CUaTOi"iEp.5 ~ TAKE THEIR BUSINESS TO A COMPETITOR 3!‘ WHEN THEY END A BUSINESS RELATIONSHIP. When a business loses a customer, the former customer will likely defect to a competitor. / EVER / ‘ /4 J ’__4 I ’ 4 ‘Ti’ . .:: I:ili: lir; i:lrL‘i1il. l‘-: i: <.i; :i. Il; :r : I.. :1i; li-. .. ‘. -rec . : 1: I-. i . n' -lrii: c: : l‘ "’ ‘ out THE AVERAGE BUSINESS LOSES AROUND . . -. 1 ' / *0 or: rrs CUSTOMERS ANNuAu. Y BY FAILINC TO ATTEND TO CUSTOMER RELATIONSI-IIPS. " Each year, businesses lose millions of customers due to poor Ki “ ' ‘I relationships. Building customer relationships, especially in a B2B setting, is a key factor in maintaining high customer retention rates u g 1 5 ill Viabl improves customer retention by helping you build customer relationships. Get Viabl FREE for 30 Days at Viabl. com. ’triaI
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Here are 5 statistics that explain why maintaining high customer retention rates is essential for a business's long-term success.

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