Building Customer Loyalty Through the Customer Journey Retention
The cost of acquiring a new customer is five to 20 times higher than that of retaining an existing one. While this is true, it is often more important to address the customer retention journey than to simply cater to new customers. Rather than focusing on one-time clients, the business needs to cast a wide net that works well for fishing.
Retention customer journeys never end.
Yogi Berra's famous quote illustrates a new way of viewing the customer journey, born of the need to retain existing customers. After you retain customers, your retention customer journey should become more attentive and effortless. 65% of an enterprise's business comes from existing customers, and increasing customer retention by 5% can boost the same profit from 65% to 95%. Read more
Your right, it is easier to retain the previous customer than acquire a new one because the old customer is already familiar with your products. Our company has used a few useful tactics to keep our customers satisfied. Thank you for sharing such an amazing content.
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