Customer Retention
by Steven Howard
|
The Art Of Keeping Good Customers™
Many organisations place their highest emphasis on attracting and gaining new customers. While this is important, I feel it is more important to place a higher emphasis on retaining and keeping your current customers.
This is particularly true in saturated markets and industries, where your customers have many, many alternatives available to them. Numerous research studies have shown that if you can reduce your attrition rate, that is the annualised rate of lost customers, by as little as five percentage points, you can increase your bottom-line profits by anywhere from 25% to 85%.
That's right, just keeping more of the customers you have and preventing them from taking their business elsewhere can have an immediate, positive impact on your bottom line profits.
Duration: 23 minutes, 59 seconds
|
|
|
|
* Pricing in Australian Dollars
|
|
 |
