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How To Effectively Retain Your Customers

How To Effectively Retain Your Customers Customers are the pillars of your business. Though acquiring more customers is important it is equally important to retain and satisfy your existing customers. A happy customer is a source of new customers. I have seen organizations so engrossed and aggressive at getting more customers even at the cost of impacting the interests of their existing customers. For any Business one of the most important parameters is Customer Retention. There is a concept of LIFETIME VALUE OF CUSTOMER. What is the average revenue a customer generates for your company during a particular period is called the lifetime value of the customer. For example, if you are a pest control company and a housing society is your client. On average a housing society takes pest control service from your company for 4 years. If the annual pest control fees are INR 25000 then the LIFE VALUE OF CUSTOMER is INR 100,000. This is the value you have to keep in mind while you decide on your marketing spend on acquiring a new customer. This value also indicates how important is Customer Retention Here are a few ways you can engage with your customers and retain […]

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