Top 7 Customer Retention Strategies that do Wonders

by Smith Wakeupsales Wakeupsales

In today’s world of marketing, customer retention is one of the key areas which marketers tend to ignore. Everyone thinks creating new customers is the key to profitability.

Contrary to popular belief, research shows that companies usually spend up to 3 times more on acquiring new customers than trying to retain an existing one. On the other hand, existing customers with their trust on your side spend up to 50% more on your offerings as compared to new ones. There’s also a belief that improving customer retention by a marginal 5% can result in revenue growth up to 50%.

When the stakes are that high, it’s only fair for every company to prepare a smart customer retention strategy. Let’s talk about 7 of the most effective strategies that can help you in this regard: