Thursday, December 1, 2016

Value Of Customer Retention

Customer is the most important part of our business. He is the reason you exist in the business. If Customer is not there, you simply cannot exist. It is not very easy to gain customer. You have to keep many things right before the first customer comes in and if he is happy, your things are working. You have to keep the customer happy. A happy customer will tell two others and they will come to you to buy the product. But remember that an unhappy customer will tell 100 others and they will not come to you. They may also tell others and your name will simply come down as a supplier.

You have to understand that it is very hard to retain a customer. But if you are able to retain him, you do not have to look further. He can be your regular customer and you just have to serve him each time, so that he is satisfied always. You can find other customers while retaining this one. This will help you increase your business. For example, if you are doing a thousand dollar per month business with one customer and he is happy. You should understand that your 12000 dollar per year is genuine business opportunity and if you retain it, this business will continue. If you add another 20000 dollar per year customer after six months, your 32000 dollar per year is fixed. So, if you find new customer while retaining the older ones your business will grow year-on-year. But if you are running behind new customers and make the older ones suffer then you will lag behind on both the counts. The regular customer may look elsewhere and leave you, while if new customer is not satisfied, he may not continue with you.

Do all things possible to retain the new customer.

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