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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

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