For your benefit, TeleFaction brings you selected facts that are important for most businesses and organizations. This page will be complemented/updated successively, and from 2007 you can expect to find links to TeleFactions own findings from real-life customer projects. 

Facts about customer experiences and referrals

• A good customer experience is told to 8 other people
• A bad customer experience is told to 22 other people
• It takes 10 good experiences to make up for one bad one
• 70% buying experiences are based on how the customer feels they are being treated

Facts about customer retention and churn facts

• An average company loses between 10 and 30% of its customers each year
• A 5% reduction in the customer defection rate can increase profits by 25% to 80%
• Satisfying and retaining current customers is 3 to 10 times cheaper than acquiring new customers
• A North American study by McKinsey estimates that successful efforts to cross-sell during inbound service calls could boost a retail bank's sales of new products by 10%, based on a study of North American banks. 

Facts about customer service and contact centers/call centers

• Executives know that upgrades in contact center technologies will not help unless companies also change the way their people work
• A good customer service strategy should balance costs, quality, and revenues. Companies that restructure call centers in this way can often cut their costs by up to 25% and boost the revenue they generate by as much as 35%, thereby transforming them into strategic assets providing a competitive advantage. (McKinsey)