"Increasing your client retention rate by 5% should increase your profits by between 25% and 95%"
source Harvard Business School
How to keep more of your customers
- Divide your customers into groups with different needs.
- Develop a plan so as to keep in regular contact.
- Brainstorm how you can deliver an on-going programme of added value to each segment of your customer base.
- Incorporate a referral strategy into your plan (but remember that good customer service does not automatically convert into referrals).
- Recontact your previous, lapsed customers and use your programme of added value to encourage them to become customers again.
"A customer who spends £120 with you twice a year, remains a customer for five years and refers a similar spending customer to you once a year is worth nearly £5,000 to you."
Customer retention - a practical guide
(Note: all boxes are clickable - to continue)
