Entries by Liz Harvard

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CSAT Stat of the Month: Resolve a Complaint Quickly…

“…and 9 out of 10 customers will buy your product/service again” What’s the background? It’s a commonly-held industry belief that resolving a customer complaint quickly will help you to hang onto that customer, and dramatically increase the likelihood of them doing business with you in the future. But where does this come from? Tracking the statistic […]

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CSAT Stat of the Month: An Unhappy Customer Tells…

“A happy customer tells 3 people; an unhappy customer tells 10 people”   What’s the background? There are many variations of this CSAT stat which crop up on a regular basis. You will almost certainly have seen versions of the statistic using slightly different phrasing, and vastly different figures! So what’s the story? You could be forgiven […]

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CSAT Stat of the Month

“80% of your future profits will come from just 20% of your existing customers”   What’s the background? This is a well-known CSAT stat which is often cited in discussions about customer retention. It is known as the 80/20 rule, or the ‘Pareto principle’. It’s a wide-ranging precept that states that, in many situations, approximately 80% of results will come […]

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CSAT Stat of the Month

“68% of customers leave as a result of perceived indifference” What’s the background? This CSAT stat is quoted frequently, but where does it originate from? In 2008, John Gattorna, a visiting professor at Macquarie Graduate School of Management, published the following figures on why businesses lose customers: 4% Natural attrition (e.g. moved away, passed on, etc) 5% Referred […]