GITNUX MARKETDATA REPORT 2024

The Most Surprising Customer Retention Statistics And Trends in 2024

Statistic 1

"80% of a company's future revenue will come from just 20% of its existing customers."

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Statistic 2

"A 2% increase in customer retention has the same effect as cutting costs by 10%."

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Statistic 3

"It’s 6-7 times more expensive to acquire a new customer than it is to retain an existing one."

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Statistic 4

"97% of companies report that good customer experience is critical to their success."

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Statistic 5

"83% of customers say they prefer dealing with humans over digital channels to resolve their customer service issues."

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Statistic 6

"Just a 5% increase in customer retention can lead to 25% to 95% increase in profits."

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Statistic 7

"Companies that excel at customer experience have 1.5 times more engaged employees."

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Statistic 8

"Increasing customer retention by 10% can increase the value of a company by 30%."

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Statistic 9

"Existing customers are 50% more likely to try new products and spend 31% more, compared to new customers."

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Statistic 10

"Businesses that have high retention rates tend to grow 2.5 times faster than their peers."

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Statistic 11

"44% of companies have a greater focus on customer acquisition vs 18% that focus on retention."

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Statistic 12

"Companies lose over $1.6 trillion per year due to poor customer service."

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Statistic 13

"68% of customers leave a company because they perceive the company to be indifferent to them."

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Statistic 14

"Companies that prioritize customer retention achieve 2.5 times more growth in revenue."

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Statistic 15

"Customer retention strategies can enhance customer satisfaction and reduce churn by up to 15%."

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Statistic 16

"89% of companies see customer experience as a key factor in driving customer loyalty and retention."

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