If you own an online business or work in the marketing/advertising field you understand how important customer retention is. The ability for a company to prospect new clients successfully as well as retain existing clients is what separates success from failure. There may be some companies that do exceptionally well at prospecting new clients, however if they can’t retain them or their existing clientele there is no way they will succeed.
I found an interesting article stated, “The Secret Sauce Formula for Retaining Customers [INFOGRAPHIC]”, I love a good infographic. I found this article really interesting, here are the reasons customers stay or go away:
Why They Go Away: 82% of consumers in the U.S. said they stopped doing business with a company due to poor customer experience.
Why They Stay: 92% of consumers say the would go back to a company after a negative experience, if they received an apology and/or a discount and/or offered proof of enhanced customer service.
I can’t say I find this hard to believe, as I reflect on my own personal experience. However, knowing this, it seems like an easy fix. Companies that want to succeed and keep clients should do one simple thing: improve customer service. To break it down further, communication. Communication is key in relationships whether they are business or casual. Keep your existing clients happy and show your positive customer service to new clients to keep them on board.