Written by John Barbanas.
During these challenging times, customer retention, or, in simpler terms, your business' ability to keep its existing customers (and their cash flowing into your business), is vital.
This article explains some of the most important practices your business should follow in order to maintain its bottom line.
- attracting new customers will cost your company 5 times more than keeping an existing customer.
These are some of the ideas you can use to get started. The main idea is first to work with your customers (cooperate with them) in order to understand their needs-problems and refine your services according to their needs, and second, to work hard for your customers in order to produce this value for them through your business. If your customers feel that the amount of money they pay to your business is less than the value they receive, the odds are that they will stay to your business and attract their friends to do the same. Feel free to contact me and share your ideas on this important subject.