Fueling Growth Through Customer Insight ™   

MARKETING MAVEN:

Q:  Where did the following statement originate?

"It costs a company six times more to sell a product to a new customer than it does to sell to an existing customer." 

 

Answer:

This statement originated from a TARP (Technical Assistance Research Program Inc.) study on Consumer Complaints handling carried out for the US Office of Consumer Affairs in 1979.

The study established the importance of effective customer service and complaint handling at a time when many people had serious problems with poor product and service quality. 

 

 

The real lesson from the study was to get your interactions with customers right the first time!  If you don't, you have to be significantly better to win back a lost customer.  Please contact us for additional resources or to schedule an introductory meeting.  

 

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