SCORE Small Business Blog

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

 

infographic

Aliana MarinoCommunications Manager, SCORE
Aliana is passionate about helping small businesses thrive and getting the word out about the great work SCORE mentors do across the country.
score.org | Facebook | @SCOREmentors | More from Aliana

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