Customer retention is key when managing a successful business. You want to keep your customers coming back again and again. You want to create a fan base, loyal brand ambassadors, your very own cult. Well, maybe not that far…
A study from SAS and Loyalty360 showed that around 68% of new sales come from existing customers. At first glance that sounds like great news. If over two thirds of your sales are from existing customers then that’s customer retention sorted, right? Not quite. The same study showed that 65% of companies currently have a dedicated customer retention team. A further 13% of companies are planning on creating such a team. Customer retention is big business, and you need to be a part of it. If you’re not currently focusing on customer retention, you can bet your competitors are.
