The first way to grow your business - Increase customer retention


Increasing your customer retention is a fast track to growth. Statistics show that it's six times easier and cheaper to make a sale to an existing customer than it is to a new one. Happier customers come back more, they spend more money and, most importantly, they talk to others.

And yet, so many businesses seem more focused on getting more customers. Sure, customers are coming in the door, but they might be exiting just as fast, putting a real handbrake on growth.

What are you doing to delight your customers? Do you know what your customers want? What is your strategy for communicating with customers? Ask yourself these questions and answer honestly.

There are three aspects to every customer experience - product, service, and relationship.

You could employ any number of customer retention strategies to improve on the areas you need to. What you focus on will depend on your business type.

1. Do you need to improve your product?

2. Do you need to improve your service?
Your product may be great, but the way it's being delivered to customers may be letting your product down.

3. Do you need to improve your relationship with customers?
Even if you're a 100% online business, you still need to build a relationship with your customers.

Looking at your customer experience from the product, service and relationship perspectives helps create a solid customer retention plan. Talk to us about how we can help you grow your business.  03 474 0475

 

Copyright 2020 PKF Bredin McCormack Rewcastle Ltd  Website & Marketing Powered by Synergy8