Statistics show that, on average, U.S. companies lose half of their customers every five years.
It’s true that acquiring new customers will help your business grow. However, your current customers are the lifeblood of your business and keeping them happy should be your highest priority. Here are a few ways to make sure your customers keep coming back.
* Understand lost customers. Many business owners mistakenly believe that customers choose to patronize other companies solely because of better prices. While pricing can be a concern, customers often head to the competition when they don’t feel valued.
A change of lifestyle may have also created a situation where customers no longer need your product. By staying in touch with their needs, you might be able to adjust your offering to continue servicing them.
* Know your customer’s top priority. Maybe it’s reliability or speed or cost. Your company should know your clientele’s No. 1 priority and consistently deliver it. Remember, customers’ desires change frequently, so ask yourself this question every six months.
* Acknowledge the lifetime value of customers....
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