I Will Give You Advice and Tangible Action Steps on...
...creating an extraordinary, personalized customer experience that fuels a minimum of 5% customer retention increase and profits growth anywhere from 25% up to 95%...
Majority of customers visit your online or your brick-and-mortar local store only one time...
Think about that !!!
All the marketing efforts and money that is spent on driving people to your business results in most customers only giving you one shot. And it can cost five times more to attract a new customer, than it does to retain an existing one.
A satisfied customer brings, on average 3 new customers to the business...
Also, existing customers are 50% more likely to try new products and are spending 31% more money with your business then new ones.
Increasing the percentage of customers that come back by ONLY 5% increases long term profits by 25% to 95%, according to research done by Frederick Reichheld of Bain & Company.
If you know all this, doesn't it make more sense to your focus efforts and funds on keeping existing customers then on aquiring new ones ?
Of course, it does...yet, 82% of businesses are focused on getting new customers vs keeping exiting ones!
