Not everything in this world is created equal, and neither are your customers. Most companies lose about 25 percent of their customers every year for a variety of reasons. Recognizing that you'll lose customers is important, yet maintaining existing clients instead of acquiring new ones is substantially cheaper. With this in mind, organizations get trapped in a continuous cycle of trying to fill a leaky customer bucket.
Here are two reasons for customer leaks:
How can you stop your customer bucket from leaking? The key is to focus your time and money on the 75 percent of the customers who're likely to stay with you and are profitable.
Do you need more convincing to keep your current customers happy? Check out these statistics from The Center for Customer Focus that just may persuade you: