2007-02-06 23:06:04 · 4 answers · asked by kirsty h 1 in Business & Finance ➔ Other - Business & Finance
Well..... I suppose it is pretty important,
basically if you are able to keep the customers you already have then you do not need to worry so much about finding new customers,
No doubt your competitors will always try to poach your existing customers, so keeping them happy and ensuring good value for money blah blah, will prevent them from going elsewhere,
and you do want people to keep coming back to use your service or buy your product....
2007-02-06 23:23:56 · answer #1 · answered by JayEleven 3 · 2⤊ 0⤋
Customer retention and customer retention marketing are key components in maintaining a profitable business. The goal of customer retention marketing is to convert first-time or occasional buyers into loyal, long term customers.
2007-02-06 23:15:03 · answer #2 · answered by 2Negative 6 · 1⤊ 0⤋
Customer retention / loyalty is far cheaper than customer acquisition. Most service industry are measured by a customer churn rate. This is the percentage of new customer they must acquire to maintain their customer base.
2007-02-06 23:14:59 · answer #3 · answered by ADAM M 1 · 1⤊ 0⤋
if you don't have the customers you dont have a business
and you would be surprised how word of mouth can drum up more customers
2007-02-06 23:13:42 · answer #4 · answered by elite_women_rule_the_rock 6 · 0⤊ 1⤋