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http://www.startupsuccess.co.uk It will have cost you a lot in time, effort and money to attract new customers so it is important that you do as much as possible to retain your existing client base. If you look back, there may well have been times in your personal life when you switched loyalties perhaps from one car insurance provider to another or from one electricity supplier to a new one with those decisions possibly made on price or perhaps due to poor customer service. So, let’s have a look at some of the ways that you can increase your customer retention rate and, therefore, the profitability of your business.
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www.startupsuccess.co.uk
Customer Retention Rates
Increase them and get 25% or more profits
5% increase in customer
retention rate improves
profits by 25% to 95%
Harvard Business School
KEEP CUSTOMERS AWARE OF NEW PRODUCTS AND
PRODUCT IMPROVEMENTS
BEFORE THEY BUY FROM
COMPETITORS
Not every customer buys purely on price – treat your customers well
Keep in contact
with your customers
– make them feel you know
them personally
Also use rewards for
existing customers not just to
attract new ones
Read the full article at http://bit.ly/1w9m4Fz
www.startupsuccess.co.uk
