Why Is Retaining Your Current Customers Important?by Sachin Sinhmar I am SEO and PPC Expert.
Businesses are always focused on customer acquisition more than they are on customer retention. It makes sense why the customer acquisition strategies get a high priority in every discussion and meet. Getting more customers gives businesses more revenue.
Though there is one aspect of generating revenue that is completely forgotten by businesses which is customer retention. If we look at the data, we find that 80% of energies and funds are devoted to customer acquisition leaving a mere 20% to the retention of the current customers. Have you ever wondered why there is such a huge disparity? Generally, this is due to not enough awareness about the merits of customer retention.
Why should you retain your customers?
A current customer who has already made a purchase from your brand is more likely to convert than someone discovering your brand for the very first time. It takes at least 4 visits on your website before a user makes a purchasing decision. Hence, it's a task getting people to try out your brand products.
This is not so much the case when it comes to customer retention. Their familiarity with the brand pays well as it takes only one-fourth of the efforts and investment to convert a current customer.
Since we live in a digital world, the first interaction of your potential customers with your brand will be via your business website. Hence, the Best Web Designing Companies that you hire should focus on incorporating the web elements giving equal importance to customer acquisition and retention for your business expansion.
CyberWorx Technologies is a leading Website Designing Company in Delhi that creates conversion-oriented, customised websites and helps businesses expand their current customer base exponentially.
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Created on Apr 20th 2021 08:01. Viewed 241 times.