on customer experience

It's ten times cheaper to keep a customer than to get a customer, according to Ryan on NBC's The Office. That's why we encourage marketers to include plans for customer retention as well as customer acquisition.

If you need current research to supports your retention programs, read more in Ardath Albee's write up of the 3rd annual report on Customer Experience Impact by RightNow Technologies and Harris Interactive. She's done the analysis so you don't have to; she writes,

  • 87% have stopped doing business with a company that provided a bad experience.
  • 84% will tell others about their bad experience—22% of them blog about it or post negative feedback online.
  • 58% will pay more for excellence in service—even in a down economy

Yet... apparently vendors are not tuned-in to their customers because:

  • 62% of companies don't view the customer experience as critical for the future

Customer retention is the goal of support but also newsletters, articles, books, and other product usage materials. As you consider your 2009 budgets, think about how you will retain your valuable clients... and plan for it. 

Steve Johnson

Steve Johnson

Steve Johnson was a founding instructor at Pragmatic Institute, a role he held for more than 15 years before he left to start Under10 Playbook. In his return to Pragmatic Institute, Steve supports the complete learning path for product teams, ensuring they are fully armed for success. 

Over the course of his career, Steve has helped thousands of companies and tens of thousands of product professionals implement product management processes. He has worked in the high-tech arena since 1981, rising through the ranks from product manager to chief marketing officer. Steve has experience in technical, sales and marketing management positions at companies that specialize in both hardware and software. In addition, he is an author, speaker and advisor on product strategy and product management.

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