They just don’t work hard enough to build customer loyalty. This is why many top-notch products and companies shut down.
You almost don’t need to onboard new customers.Īre you thinking – this doesn’t concern me, I have a great product and my customers will never abandon me? Then, there’s another bitter pill you’ll have to swallow: no matter how good your product or service is, your customers might leave if they feel neglected. Wow, that’s an eye-opener! This means your business can survive (at least break even) just by cross-selling or up-selling to your existing customers. And here’s the trump card of statistics in favor of customer retention: Gartner states that 80% of all your future ROI will come from just 20% of your customers. You can retain present customers at a fraction of this cost, one-sixth to be precise. You can sell to an existing customer 7 out of 10 times, but only 1 out of 10 times to a new customer. Yet, sales and marketing people exert effort and expenses in generating leads. It’s a well-accepted fact: if you service the customers you have, you won’t have to go around hunting for new ones. In a saturated marketplace such as ours where competition is stiff, it makes sense to conserve the customer base that you have acquired.
#Iview customer service how to#
How to Ease the Burden of Operations in an On-Demand Solutions Industry.The Easiest Way To Launch An On-Demand Solution.How To Build An Exceptional Fintech Application.
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