Where does customer loyalty come from? Customer experience. Here are a few basics:
 
Loyal Customers Impact the Bottom Line

• 86% of loyal customers are willing to pay 25% more for products and services, and the higher the investment the more they are willing to pay
• Loyal customers spend 67% more than new customers
• A 5% boost in customer retention can raises profits more than 25%

Focus on customer experience. It is expected to overtake price and product as the key brand differentiator in 2020.
 
Loyalty Reduces Churn

• The average business loses 50% of their customer base every 5 years
• Only 1 in 26 unhappy customers will complain. The rest just take their business elsewhere
• Loyal customers are 5x as likely to forgive for an error or issue than a new customer

A high churn rate can cripple the growth of an organization. Don’t take the absence of negative customer feedback as an indicator of satisfaction.

Debbie is co-founder, chief of customer success at Buzzy Rocket and yellow lab lover. From LA to London, she is well known as an expert in creating that certain elusive magic that drives explosive growth at the intersection of companies, customers and mobile. She has proven strategic vision, and isn’t afraid to get in the trenches. In fact, she’s been doing this at companies big and small for 25+ years. Her background includes executive level positions at both public companies and startups where she has proven over and over again that her passion, drive and results oriented perspective get it done. She is tenacious, loves the game changer and loves to win.

Debbie is co-founder, chief of customer success at Buzzy Rocket and yellow lab lover. From LA to London, she is well known as an expert in creating that certain elusive magic that drives explosive growth at the intersection of companies, customers and mobile. She has proven strategic vision, and isn’t afraid to get in the trenches. In fact, she’s been doing this at companies big and small for 25+ years. Her background includes executive level positions at both public companies and startups where she has proven over and over again that her passion, drive and results oriented perspective get it done. She is tenacious, loves the game changer and loves to win.