Focusing on new customers is a top priority for most businesses, but customer retention is just as important. Maintaining regular contact with existing customers can often be seen as ‘time consuming’, however it can have a huge impact on both your income stream, and prospecting too...
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CUSTOMER RETENTION K.I.T.
TREAT THEM LIKE ROYALTY AND THEY’LL SHOW LOYALTY.
In order for a customer to do business with you in the first place, you must have spent a great deal of time gaining their trust, so really, you are already half way there when it comes to selling them the next product.
If you treat your customers like ‘royalty’, they will show you loyalty. Make their experience enjoyable, build their trust and they will come back – and maybe even bring their friends too!
Once you have built loyalty with a customer, they are less likely to go elsewhere.
CUSTOMER RETENTION HELPS WITH PROSPECTING TOO...
To attract new customers through marketing, a great deal of time and money is spent on campaigns and advertising.
But, by retaining customers, you can use tem to help attract new business, whether this be through a ‘refer a friend’ scheme, recommendations online or even by word of mouth.
”It costs up to 4 times more to attract a new customer, than it does to keep an existing one.
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