There’s a chapter in my book, THE TIMELY ENTREPRENEUR, that talks about Customer Retention. This is important in business as there is a high cost attached to acquiring new customers, so if businesses put effort into retaining existing customers, they would not incur the high cost of building a new customer base.
Customer Retention involves ‘Relationship Marketing’ which aims at building stronger and long lasting relationships with clients and those you interact with in your business. Not many Entrepreneurs understand that this type of marketing could well be exactly what they need to separate them from their competitors.
Customers realize the value of the relationship built, and they are drawn closer, building loyalty to your brand.
Relationship marketing not only focuses on creating lasting relationships and attracting customers to products and services, but it focuses also on how to keep these customers for a very long time in your business. Some of the strategies businesses use to try to maintain their clients include being consistent in providing comparatively quality products and superior service, thereby achieving customer loyalty. Once this is achieved, it becomes difficult for your customers to switch to your competitors.
Don’t give them a reason to.
Your Timely Entrepreneur
