This infographic shares the many benefits of customer retention for small businesses.
Below, you can find the text version of this infographic.
Why customer retention is key to small business success
The benefits of customer retention
80% of small business revenue will come from just 20% of customers.
A 5% higher customer retention rate can increase profits by 25%.
Repeat customers spend 67% more than new ones.
The impact of customer service
80% of customers won’t return to a business after one bad experience.
71% of customers will cut ties with a business because of poor customer service.
Providing an excellent customer experience results in 5X higher revenue growth.
Drive a better bottom line with customer retention
It costs 5X more to get a new customer than it does to keep an existing one.
You’re 3X more likely to sell to an existing customer than a new customer.
82% of companies agree that customer retention is more profitable than acquisition.
See how Method CRM can help you realize the benefits of customer retention faster.