16 Key Customer Experience Stats

If a company’s customer service is excellent, 78% of consumers will do business with them again after a mistake. (Salesforce Research)
A 5% improvement in customer retention could increase profitability by 25%. (Forrester)
Nearly 3 out of 5 consumers report that good customer service is vital for them to feel loyalty toward a brand. (Zendesk)
Investing in new customers is between 5 and 25 times more expensive than retaining existing ones. (Invesp)
The customer experience management market is estimated to grow at a compound annual growth rate (CAGR) of 15.4% from 2023 to 2030. (Grand View Research)
Customers who engage with companies of social media are more loyal and they spend up to 40% more with those customers than other customers (Bain and Co.)
73% of companies with superior customer experience outperform their competitors financially (invesp)
Increasing customer retention rates by 5% could increase profits from 25% to 95%. (Harvard Business Review)
It costs 6 to 7times more to attract a new customer than to retain an old one (invesp).
A fifth (20%) of client-side survey respondents say that customer experience is the single most exciting opportunity, ahead of mobile (18%) and content marketing (15%). (Econsultancy Digital Trends)
Poor data can cost businesses 20%-35% of their operating revenue. (Forbes)
80% of organizations expect to compete with each other based on CX. (Gartner)
One third of British consumers are unhappy with the service they receive and are likely to revolt when displeased. (British Standards Institution)
Nearly 90% of customers would switch to a different company if it could provide better CX. (Hyken)
It is 6 to 7 times more costly to attract a new customer than it is to retain an existing one. (White House Office of Consumer Affairs)
A customer is four times more likely to buy from a competitor if the problem is service related versus price or product related. (Bain and Co.)