How Many Customers Can You Afford to Lose?
By: Admin
Date: 12 / 11 / 2014
Date: 12 / 11 / 2014
According to the Harvard Business Review, 67 percent of customers who choose a new supplier said they were satisfied with their former supplier! On an average, most U.S. companies lose half their customer base every five years. So why would customers who are satisfied stop doing business with you? Well consider this: Customers go where they are wanted and stay where they are appreciated.
Varying estimates place the cost of acquiring new customers at six to ten times more than selling to existing customers. Losing customers can drastically affect your company’s reputation, credibility, referrals, sales, and profitability.
Seven Ways to Retain Your Valued Customers:
Finally, make customer service everyone’s responsibility especially in a small business where team members wear many hats. Train your team on customer service. From the receptionist to the delivery driver, your team will make an impression. The kind of impression they make is up to you.
Also Read 3 Steps to Keeping Your Clients Longer
About ActionCOACH
Brad Sugars founded the brand Action International in 1993 when he realized there was a disconnect between business advice and implementation. The answer was Action! Brad Sugars created a business coaching company so that business owners throughout the world can realize their goals in business. Today the company is known as ActionCOACH. To learn more about business, visit Brad Sugars Review blog