About this practice

It is far easier to sell to an existing client than to find a new one.

Customer Retention

It is 6 to 8 times more difficult to obtain a new customer to sell to than to sell to an existing customer.

Most existing customers have an in-built desire to continue buying in the way they have in the past as long as they have enjoyed the experience.

The main reason why customers leave is that they feel un-loved, neglected or unimportant.

In most cases business growth can be fuelled more quickly by selling to existing customers than by looking for new ones.

The Value of Customer Retention vs Customer Acquisition

Do you work with a small business mentor whose opinion you value? If so, what are the kinds of questions you ask your mentor? You may want to bring up the topic of retaining customers versus acquiring new ones at your next meeting. You might be surprised to learn how valuable a solid customer retention strategy actually is.

How Size Affects Strategic Business Planning

Company size definitely affects strategic business planning at nearly every level. For smaller companies, more attention needs to be devoted to external factors that may otherwise inhibit growth. Larger companies shift their focus from external factors to those internal things that need to remain intact during global expansion.

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