It’s no great news that customer loyalty needs to be carefully cultivated after the closing sale. Customers must see value in every aspect of your brand, from service to presentation to price – far beyond your product itself. On the other hand, once customers are completely satisfied with your product, what motivates them to try another?
In the complex, competitive cycle of recruiting new customers, many businesses make the huge mistake of overlooking the valuable customers they already have. According to Forbes, however, it’s nearly 7 times less expensive to retain an existing customer than to gain a new one.
My greatest reward as an entrepreneur isn’t the monetary value of returning customers; it’s the trust and dependability those customers represent. A contract renewal is worth a lot more than just the financial incentive attached to it – it’s a continued vote of confidence and commitment from my clients.
