Retaining existing customers is just as important as acquiring new ones. Sales and support can work together to acquire new customers. However, with fresh challenges constantly arising in the marketplace infrastructure and requirements, simply “retaining” customers is not enough. Rather, businesses must seek to grow with existing clients. It has to enhance the value of these relationships over time. You should note that existing clients spend almost 31% more than new customers. Similarly, current customers are 60-70% likely to buy from you again. It’s a big difference compared to the 5-20% purchase likelihood of new prospects. While revenue-generating activities...
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