ARTICLES

Focus your energies & improve customer retention

Customer retention is often the most cost effective way to increase sales in your business without having to initially discount your products or services and thereby devaluing your offerings.

Customer retention is all about a company’s capability to create repeat customers out of first time buyers. It is when your sales staff focus their attention on clients or customers who have previously purchased products from your business or contracted you for a service. Retaining existing customers is about building relationships & not just about one off sales.

Keeping your existing customers happy is far easier & cheaper than finding new ones. According to a Harvard Business Review acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.

Happy, repeat customers are much easier to communicate with because they already know and trust you. This means that they are a great deal more likely to buy from you or use your services again as opposed to a potential new customer using you for the first time.

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