{"id":13247,"date":"2020-08-25T16:37:33","date_gmt":"2020-08-25T20:37:33","guid":{"rendered":"https:\/\/www.method.me\/?p=13247"},"modified":"2025-12-06T16:46:28","modified_gmt":"2025-12-06T21:46:28","slug":"benefits-of-customer-retention","status":"publish","type":"post","link":"https:\/\/www.method.me\/blog\/benefits-of-customer-retention\/","title":{"rendered":"Why customer retention is key to small business success [Infographic]"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">This infographic shares the many benefits of customer retention for small businesses. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Below, you can find the text version<em> <\/em>of this infographic.<\/p>\n\n\n\n<figure class=\"wp-block-image alignfull size-full\"><a href=\"https:\/\/www.method.me\/wp-content\/uploads\/2020\/08\/Customer-retention-infographic-design-V3d.png\"><img decoding=\"async\" width=\"1100\" height=\"3368\" data-src=\"https:\/\/www.method.me\/wp-content\/uploads\/2020\/08\/Customer-retention-infographic-design-V3d.png\" alt=\"\" class=\"wp-image-13248 lazyload\" data-srcset=\"https:\/\/www.method.me\/wp-content\/uploads\/2020\/08\/Customer-retention-infographic-design-V3d.png 1100w, https:\/\/www.method.me\/wp-content\/uploads\/2020\/08\/Customer-retention-infographic-design-V3d-98x300.png 98w, https:\/\/www.method.me\/wp-content\/uploads\/2020\/08\/Customer-retention-infographic-design-V3d-334x1024.png 334w, https:\/\/www.method.me\/wp-content\/uploads\/2020\/08\/Customer-retention-infographic-design-V3d-768x2351.png 768w, https:\/\/www.method.me\/wp-content\/uploads\/2020\/08\/Customer-retention-infographic-design-V3d-502x1536.png 502w, https:\/\/www.method.me\/wp-content\/uploads\/2020\/08\/Customer-retention-infographic-design-V3d-669x2048.png 669w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; --smush-placeholder-aspect-ratio: 1100\/3368;\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-customer-retention-is-key-to-small-business-success\">Why customer retention is key to small business success<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-benefits-of-customer-retention\">The benefits of customer retention<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/smallbiztrends.com\/2016\/10\/customer-retention-statistics.html#:~:text=80%20percent%20of%20your%20future,of%20its%20customers%20each%20year.\" target=\"_blank\" rel=\"noreferrer noopener\">80%<\/a> of small business revenue will come from just 20% of customers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A <a href=\"https:\/\/smallbiztrends.com\/2016\/10\/customer-retention-statistics.html\" target=\"_blank\" rel=\"noreferrer noopener\">5%<\/a> higher <a href=\"https:\/\/www.method.me\/blog\/customer-retention-rate\/\">customer retention rate<\/a> can increase profits by 25%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.method.me\/blog\/repeat-customer\/\">Repeat customers<\/a> spend <a href=\"https:\/\/forbes.com\/sites\/neilpatel\/2014\/11\/17\/how-to-make-more-money-without-making-more-sales\/#3db1e50423aa\" target=\"_blank\" rel=\"noreferrer noopener\">67%<\/a> more than new ones.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-impact-of-customer-service-nbsp\">The impact of customer service <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/smallbiztrends.com\/2016\/10\/customer-retention-statistics.html\" target=\"_blank\" rel=\"noreferrer noopener\">80%<\/a> of customers won\u2019t return to a business after one bad experience.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/neilpatel.com\/blog\/retaining-customers\/\" target=\"_blank\" rel=\"noreferrer noopener\">71%<\/a> of customers will cut ties with a business because of poor customer service.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Providing an excellent customer experience results in <a href=\"https:\/\/go.forrester.com\/blogs\/16-06-21-customer_experience_drives_revenue_growth_2016\/\" target=\"_blank\" rel=\"noreferrer noopener\">5X<\/a> higher revenue growth.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-drive-a-better-bottom-line-with-customer-retention\">Drive a better bottom line with customer retention<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">It costs <a href=\"https:\/\/www.forbes.com\/sites\/jiawertz\/2018\/09\/12\/dont-spend-5-times-more-attracting-new-customers-nurture-the-existing-ones\/#17393dd85a8\" target=\"_blank\" rel=\"noreferrer noopener\">5X <\/a>more to get a new customer than it does to keep an existing one.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019re <a href=\"https:\/\/smallbiztrends.com\/2016\/10\/customer-retention-statistics.html#:~:text=80%20percent%20of%20your%20future,of%20its%20customers%20each%20year\" target=\"_blank\" rel=\"noreferrer noopener\">3X<\/a> more likely to sell to an existing customer than a new customer.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/smallbiztrends.com\/2016\/10\/customer-retention-statistics.html#:~:text=80%20percent%20of%20your%20future,of%20its%20customers%20each%20year\" target=\"_blank\" rel=\"noreferrer noopener\">82%<\/a> of companies agree that customer retention is more profitable than acquisition.<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><a href=\"https:\/\/grow.method.me\/request-demo\/\">See how<\/a> <a href=\"https:\/\/www.method.me\/\">Method<\/a> CRM can help you realize the benefits of customer retention faster.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Check out this infographic to learn the benefits of customer retention for small businesses. 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