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[News] Why Retaining Old Customer Are Cheaper Than Getting A New One?
Posted at: 11 April 2017

Selling a product to customers is one thing, but keep them retained is another thing. Retaining customer loyalty should be a priority; otherwise, your costumers will vanish into thin air.

You can have small or large business, but improving how you handle with customers and having them to repeat the order is important.

Research from the U.S. Small Business Administration and U.S. Chamber of Commerce have found that acquiring new customers can cost as much as five to seven times more than simply retaining existing customers. 

The first step to foster better customer retention is to set client expectations early.  Do not promise too much, promise things which you can deliver. Customers can remember bad experiences and in the age of social media, it took minutes to destroy years of business.

Becoming a trusted source, you build a relationship that leads to a dependency. Your customers will trust you, rely on you to give the best advice, and recognize you as an integral part of their business success. Make them share your company's values. Do some research on their habit and culture, make them feel at home. 

Meet them not just offline, but also online. Set up WhatsApp group to share ideas. Be their friends. Trust built through relationships. As trust increases, commitment tends to grow. Always try to go the extra mile for this since the payoff will be great for both parties.

Good luck in growing your business bigger.