Keeping Existing Customers is Cheaper Than Finding New Ones
Posted on 07. Dec, 2009 by Jeremy Reis in Customer Service, Sales
Retaining your existing customers is much cheaper than continually turning over your customer base and needing to find new ones. If your organization has not yet calculated a customer acquisition cost, how much it costs to acquire each new customer, you should determine this amount so you understand exactly what customer turnover costs you. You will likely find that it is much cheaper to retain your existing customers than to find new ones. Once you know how much a new customer costs you, you will be more likely to invest in the customer service required to keep your customers.
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