B
Evidence Grade B
Graded
accuracy verified by the review judge
Safe to Cite
Aging
25%
25% -- profit increase from 5pct retention improvement for companies (Bain & Company) (2024)
Increasing customer retention rates by 5% can increase profits by 25% to 95% according to Bain and Company.
- Source reports a range of 25%-95%
Attribution:
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Lighthouse Research Team
Last verified:
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Source verified
Evidence graded
Value
25%
Unit
Percentage
Data Vintage
2024
Entity
Evidence Quality
B
Strong, reliable evidence
Sourced from a well-regarded research firm or industry leader with transparent methodology and a reasonably large sample.
Single source - not yet corroborated
Score breakdown
Extraction
75
Source Trust
60
Citation Chain
60
Independence
30
Methodology
45
Freshness
95
Source
Bain & Company
Primary
Tier B
https://mybites.io/blog/customer-service-training/ ↗
Source Article
Customer Service Training - Bites
What is customer service training?
Customer service training refers to the process of upskilling and reskilling customer service employees so they can improve their performance and increase customer satisfaction. Training employees in customer service has to be an ongoing process to ensure their con…
Original Research
Bain & Company
· Original study ↗
Methodology
Bain & Company research: 5% retention increase raises profits 25%-95%; midpoint used, range in notes
Methodology documented
Segmentation
Industrymarketing
Cite this stat
Plain Text
companies (Bain & Company): 25% profit increase from 5pct retention improvement. Source: Bain & Company (2024). Via Lighthouse Intelligence -- https://lighthousedata.io/data/bain-retention-profit-lift-25-95
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<blockquote cite="https://lighthousedata.io/data/bain-retention-profit-lift-25-95" style="border-left:3px solid #2563eb;padding:12px 16px;margin:16px 0;font-family:system-ui,sans-serif;background:#f0f4ff;"><strong>25%</strong> -- profit increase from 5pct retention improvement for companies (Bain & Company)<br><small>Source: Bain & Company (2024) · <a href="https://lighthousedata.io/data/bain-retention-profit-lift-25-95" target="_blank" rel="noopener">Lighthouse Intelligence</a></small></blockquote>
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