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Thursday, June 03, 2010

Customer Attrition Stats

I ran across this interesting article on Customer Attrition and I thought I would pass it along. As I think about customers, this was a jarring bit of information, hope it might be of interest.

Why Customers Leave Their suppliers in Business Relationships

1% of the time they die.

3% of the time they move away.

5% of the time they are simply lured into new relationships with competitive suppliers for no other reason than the persistence and persuasiveness of their sales reps.

9% of the time, they leave for better pricing or terms.

14% of the time, they leave due to product dissatisfaction.

68% of the time, they leave because they sense indifference from their suppliers.

Source, UPSIDE DOWN MARKETING by George Walther.

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