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CUSTOMERS GROWING BUT REVENUE NOT?

I’ve seen it too many times as a business consultant:  A new business takes off running, building quickly within the first two to three years of operations and then suddenly they stall!  They are attracting new customers by leaps and bounds yet  revenue is staying steady.  Some businesses are so focused on new customers they never stop to evaluate the retention rate of existing customers.  If your customer base is growing but your revenue is not, it’s time to look at your retention rate for existing customers.  If you have just as many customers going out the backdoor as coming in the front, you need to identify the problem and fix it, fast!
Customer Satisfaction is a major key to the success of any business and if you’re not keeping them happy, you’re not keeping them.  It’s that simple!  So just as important as the strategy to attract customers is the science of keeping them.  There must be a plan in place for guaranteeing your customers are getting the service and attention they need to keep them coming back. It’s a simple strategy but one of the most important for the success of your business.

6.11.13

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