$62 billion lost by US businesses yearly due to bad customer experiences.
Why? I know I'm part of the problem -I write about #sales because my customers are sales people and sales orgs.
But the numbers put out by NewVoiceMedia are frightening:
- 49% of customers that switched vendors did so because of poor #CX
- 42% say they would not only leave but also post NEGATIVE reviews or share their NEGATIVE experience via social media!
A very messy breakup if you ask me...
Years ago we in sales could bury bad #CX in the back yard - "just don't use them as a reference" was the rallying cry.
But that dog don't hunt no more. Tatango states that orgs that rely on recurring revenue (i.e., every #Saas company ever) only 5-30% of revenue comes from the INITIAL sale.
70-95% comes from renewals & upsell.
Pro tip - you can't upsell someone who hates you & you can't renew someone who isn't a customer.
Imagine losing just 10% of your customer-base a year due to bad #CX.
If you're a rep tasked with just 15% growth in your market, that means you need 25% growth just to make your number!
Well, #imnoguru - but watch this space.