new customers can cost five times more than
satisfying and retaining current customers
A 2% increase in customer retention
has the same effect on profits as cutting costs by 10%
average company loses 10% of its customers each year
reduction in customer defection rate can increase profits by
25-125%, depending on the industry
customer profitability rate tends to increase over the life of a
Creating Sustainable Profits:
9 Questions To Answer
Customer connection comes from
customers as co-innovators, partnering with them. Partnering with customers
firm's capacity to anticipate what customers need even before they know
they need it....
7 Routes to
Experts say, it takes 5 to 10 times more time,
effort and expense to win new customers than it takes to keep existing ones.
today's competitive business world and challenging economy, retaining
your customer base is critical to your success. If you don't give your
customers some good reasons to stay, your competitors will give them a
reason to leave.
5 Strategic Questions
Customer retention and
far less expensive to cultivate your existing customer base and sell more
services to them than it is to seek new, single-transaction customers. Most surveys across industries show that
keeping one existing customer is five to seven times more profitable than
attracting a new one.
Create Customer Value:
10 Lessons from Konosuke Matsushita
Happy Business is about Love
Loving is about striving to make your loved ones happier. If you
make your customers feel happier, they will stay with you, and you both
will enjoy this lasting
Love your customers.
If you ignore them, they will very quickly ignore you, and
If you focus more attention towards post-acquisition
customer engagement, you will enjoy cumulative benefits: the customer base,
revenue and cash flow will keep increasing, while the pressure off
acquisition as the sole driver of growth will be taken off...