It is common to think that a company should focus all its efforts on finding new customers. The surprising thing is that several studies show that increasing customer retention is always more profitable than acquiring new ones. It is always easier to sell to an existing customer , since they already know your brand and your product.
As strange as it may seem… 'a 5% increase in customer retention list of algeria whatsapp phone numbers can increase a company's profitability by 75%', according to a study by Bain and Company. Among other data, the Gartner Group points out: '80% of future revenues in a company will come from 20% of existing customers'. With this we see how it is possible to increase your company's profits by focusing only on those customers who have already purchased once. To do so, we will review some of the key points that make it possible for you to obtain benefits with this system.
One of the biggest mistakes a company can make is taking a customer for granted. Customer loyalty must be earned constantly , never forgetting someone who at some point trusted your product or service. We can differentiate three reasons why you should care about existing customers:
1- At some point, trust was established between the client and the company.
2- Good reviews left by customers who have already purchased your product or service are essential for business development.
3- You can always increase your profits with your existing customer base . Once a customer has tried your product, you can always offer them more products related to their interests.
In order to retain these customers, it is important to know them, their age range and interest in the product. There are several tools that can help you with this.
