Increasing customer retention rates by 5% increases profits by 25% to 95%
Harvard Business Review reports that repeat customers spend more than twice as much in months 24-30 of their relationships than they do in the first six months. They stress that if your company knows how much it really costs to lose a customer, you would make more accurate evaluations of investments designed to retain customers.
35-50% of sales go to the vendor that responds first
Based on an audit of 2,241 U.S. companies, measuring how long each took to respond to a web-generated test lead. Harvard Business Review published the results.
Firms that tried to contact potential customers within an hour of receiving a query were nearly seven times as likely to qualify the lead as those that tried to contact the customer even an hour later—and more than 60 times as likely as companies that waited 24 hours or longer.
Use a P.S. for increased conversion
According to Entreprenuer.com, recipients tend to read the salutation, then skip to your P.S. before reading the body of your letter.
When you have 2 key thoughts that need repeating or emphasis – there is no better way than with a P.S. and a P.P.S.
Donors personally thanked are 38% more likely to give another donation
Donors Choose conducted a study to demonstrate the ROI of gratitude. In the study, Donors Choose sent handwritten thank you notes to half of their recent first-time donors. The other half received no thank you notes. The results showed a direct correlation between being thanked and the likelihood of giving again. Huffington Post published the results.
"Some recipients of our thank-you notes were moved to tears, some just to nice tweets. But everyone appreciated the extra time it took to handwrite a thank-you card, seal it, and deliver or send it. In an increasingly digital world, there's something magical about receiving a handwritten note."
People share with an average of 9 people about a good experience
Released in the American Express® Global Customer Service Barometer, the U.S. and nine other countries were surveyed. The data demonstrates that superior service is an investment that can help drive business growth, and should not be thought of as a cost. Additionally, 22% of the surveyed customers say companies take their business for granted.
We believe the key to delivering a great guest experience is listening and building the confidence of the employees to respond to the needs of the customer in a unique way every time... not only do we have to listen in a different way, but the experience itself extends beyond the face to face interaction.
GMI Sets Sales Meetings with 47% of their Dead Leads Using MailLift
GMI developed a depth of engineering and manufacturing services to help medical OEM’s increase return on investment for medical equipment and devices. GMI is an exclusive supplier to healthcare manufactures.
We tried MailLift on prospects that we had given up on, and were very surprised. The response rate certainly beat our expectations... MailLift accommodated everything that we’ve asked. The quality’s been stellar. Logistically, everything was handled perfectly as well.
Preact earns $40 for every $1 spent on MailLift's prospecting letters
Preact is a Customer Success Service that helps SaaS companies increase customer spending and reduce churn. Using a variety of signals and data science, they monitor the “health” of your customers, to identify when they are likely to either leave the service or upgrade.
Using MailLift was 1/20th the effort of what we've done before, with 40x the return. You’re able to deliver such a personal message to exactly the right person in a human way, but what’s on your end is easy... It was ridiculously easy. I just said, 'Here’s our list, Here's our logo' and MailLift did the rest.