Understanding Customer Retention and 7 Effective Retention Strategies
Customer retention is a crucial part of any business’s operations. You’ve heard it all before – it’s much easier to get an existing customer to buy from you again than it is to win new customers. Your chance of selling to an existing customer is between 60–70%, compared to 5–20% for a new customer. Do you spend time marketing to your current customers and drawing them back into your sales funnel?