by keeping them actively engaged with your brand. And if those numbers dont impress you, Gartner, group statistics tell us that 80 of your companys future revenue will come from just 20 of your existing customers. Never Underestimate the Value of Retention. Management, update, 80 of companies surveyed said that they offer superior customer service, but only 8 of their customers agreed with them. However, product driven businesses, which depend heavily upon same customer sales, will find customer retention programs invaluable. One final statistic provided by Lee Resource Inc. This is counterproductive considering that its far easier (about 50 easier according. As you identify those customers (followers) who are the most loyal, send tide dry cleaners naperville coupons them personalized thank you emails. The key is to dial down the corporate presence and give your customers a voice and a forum to connect with other customers, and then let them build the traffic. Oh yeah, 80 of your future revenue will come from 20 of your current customers.
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When it comes to growing their startups, many entrepreneurs are so focused on gaining new clients and customers that they fail to effectively address the need to retain those they already have.
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For service oriented businesses a lemon tree smithtown coupons customer retention program from early on may not be necessary, as the quality of the service and support provided will determine the rate of retention. To avoid misreading customers, companies need to focus more on actual customer behavior, not on the predicted behavior of a certain demographic. For those who feel that customer retention plays a relatively minor role in helping a company grow a healthy bottom line, here are a few statistics you might be interested. And if this is your startup philosophy you would be right but only for a while. Franklins age-old idiom that a bird in the hand is worth two in the bush, heres a look at five customer retention tips for entrepreneurs. Companies that play an active part in communicating with customers to keep them engaged and better meet their needs and expectations, are well on their way to achieving the prime objective of any customer retention program; greater customer loyalty. On a more personal note, promotions such as sending promotional gifts, birthday cards, or staying in touch over the holidays with business Christmas cards are additional ways to express appreciation and potentially increase customer retention. And its not just a problem with startups. Customers dont owe you their loyalty.