June 9, 2019

Loyalty builders

Businesses large and small can find it challenging to turn first-time clients into repeat patrons. But it’s well worth the effort, as merely a 5% rise in customer retention can generate more than a 25% growth in profit, and the success rate of selling to an existing customer is up to 70% versus as low as 5% for a new customer.

Want to keep your clientele happy and coming back for more? Prepare to shower them with more attention, encourage feedback, and provide incentives for their repeat business. These general approaches can be accomplished in a myriad of ways. But for more specific strategies that have proved successful, I interviewed three industry professionals on this topic for the US Chamber of Commerce's new CO site; you can read the full article here.