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If you can retain customers, you will reap the following benefits:
- stabilize your revenue base when you retain customers.
- Old customers bring in new customers for you.
- It cost less money to retain customers than it costs to find new ones.
Scenario 2: With Repeats - You again have 1000 new customers in the first quarter who provide you with $1,000,000 in revenue. This time you get 1000 new customers in the second quarter and all 1000 of your customers from the first quarter return. That gives you a total of $2,000,000 and you double your revenue.
Now you can see just how profitable a retained customer can be!
Here are a few ways that you can have the success that we have had:
- Treat customers like they are the most important person on the earth. After all, they are the most important people! People won't spend money on a second bad experience so make them feel good.
- Go the extra mile! If a customer has a problem, the entire company should work to fix it. We ensure that our clients have an excellent experience and they appreciate it by coming back again and again.
- Offer incentives and let them know they are appreciated! Loyal customers are hard to come by so we occasionally give them freebies and we always tell them how much we appreciate them. Both of these actions reinforce the fact that we value them. That way we can retain them easier and everyone is happy.
- Make things easy! We use a lot of automated tools to give our clients 24/7 access to us. This lets them know that they can count on us 24/7. If they want to ask a question at 3AM, they can. If they want to check on their project on a Sunday, they can! We give them what they want so they stay longer.