Winter2024_SSCWN_web
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EXTRA!<br />
EXTRA!<br />
New self serve<br />
going up in<br />
Shepton Mallet,<br />
England<br />
Work is under way on a self serve car<br />
wash in Shepton Mallet, England, according<br />
to a January 22 Shepton Mallet<br />
Nub News story.<br />
The car wash promises advanced<br />
features like underfloor heating, softened<br />
water, hot wax and pre-soak<br />
options. This project is transforming<br />
a previously unused plot and will be<br />
called the Smart Auto Spa. Recent<br />
developments include the installation<br />
of a large commercial water tank and<br />
the addition of a heavy-duty gas pipe,<br />
the story said. Operating hours are<br />
planned from 7 am to 11 pm, and the<br />
facility will include modern lighting<br />
and a roof for weather protection.<br />
Customer retention report includes need for loyalty programs<br />
Smallbiztrends.com released a report on December<br />
8, all about customer retention.<br />
The <strong>web</strong>site gathered the customer retention findings<br />
from a variety of sources. Here are the following<br />
statistics, according to Smallbiztrends.com:<br />
Insure with the<br />
INDUSTRY<br />
LEADER<br />
in Car Wash<br />
Insurance<br />
Since 1986<br />
• The probability of selling to an<br />
existing customer is 60-70 percent.<br />
The probability of selling to a new<br />
prospect is 5-20 percent.<br />
• 80 percent of your future profits<br />
will come from just 20 percent of your<br />
existing customers.<br />
• 65 percent of a company’s business<br />
comes from existing customers.<br />
• 32 percent of executives say retaining<br />
existing customers is a priority.<br />
• A typical American business will lose<br />
15 percent of its customers each<br />
year.<br />
• 27 percent of small business owners<br />
estimate that 11-20 percent of firsttime<br />
customers don’t return to their<br />
business.<br />
• 80 percent of businesses<br />
surveyed rely on email marketing for<br />
customer retention.<br />
• 56 percent of survey respondents<br />
considered email marketing to be the<br />
most effective method of reaching<br />
customer retention goals.<br />
• 36 percent of U.S. retail<br />
professionals said organic search<br />
drives customer retention.<br />
• 43 percent of U.S. retail<br />
professionals said paid search drives<br />
customer retention.<br />
• 44 percent of U.S. retail professionals<br />
said social media drives customer<br />
retention.<br />
• 37 percent of U.S. retail<br />
professionals said retargeting drives<br />
customer retention.<br />
• 21 percent of U.S. retail professionals<br />
said affiliates drive customer<br />
retention.<br />
• 18 percent of U.S. retail<br />
professionals said referral marketing<br />
drives customer retention.<br />
• 8 percent of U.S. retail<br />
professionals said mobile<br />
marketing drives customer<br />
retention.<br />
• It costs 5 percent more to acquire a<br />
new customer than it does to keep a<br />
current one.<br />
• It costs 16x more to bring a new<br />
customer up to the same level as a<br />
current one.<br />
• 82 percent of companies agree that<br />
retention is cheaper to execute than<br />
acquisition.<br />
• A mere two percent increase in<br />
customer retention can lower costs<br />
by as much as 10 percent.<br />
• 82 percent of consumers in the<br />
United States said they stopped<br />
doing business with a company due<br />
to a poor customer experience.<br />
• Companies lose 71 percent of<br />
consumers due to poor customer<br />
service.<br />
• 68 percent of customers leave you<br />
because they perceive you are<br />
indifferent to them.<br />
• 60 to 70 percent of customers will do<br />
business with a company again if it<br />
deals with a customer service issue<br />
fairly even if the result is not in their<br />
favor.<br />
• 47 percent of customers would take<br />
their business to a competitor within<br />
a day of experiencing poor customer<br />
service.<br />
• 66 percent of consumers<br />
who switched brands did so because<br />
of poor service.<br />
20 • WINTER 2024<br />
WINTER 2024 • 21