How much have you invested in sales and marketing over the last few months / years?
Your customer retention strategy is about keeping the customers you’ve invested in to acquire.
Studies show that it costs ten times more to generate a new customer than to maintain an existing one.
If you have a small number of customers, losing a few could cripple your company. Even if you have a large number of customers, a small increase in your customer retention rate should dramatically increase your profits. With a strong customer retention strategy, it’s much easier to grow your revenue and profitability.