Here’s a brief microlearning on customer retention.
Did you know that retaining a current customer is 6 to 7 times less costly than acquiring a new one?
Are you aware that 67% of customers leave because of an attitude of indifference on the part of a company employee?
If that’s the case, then why do so many companies lose clients.
From my experience working with sales teams from small, mid-sized, and Fortune 500 companies, it is because the customers feel as if they’ve been monetized and that the company does not value them.
Too often, our focus is on making sales and not making customers.
For me, creating meaningful customer rapport starts with gratitude.
I love this quote from Zig Ziglar; “Gratitude is the healthiest of all human emotions. The more you express gratitude for what you have, the more likely you will have even more to express gratitude for.”
And if you’re grateful for your customer’s business, you will provide them with exemplary customer service.
And what is it that customers want in the relationship with their sellers?
Well, they want…
- One-of-a-kind experiences
- Fast access to knowledge and wisdom
- Convenience and respect of their time
- Hassle-free interactions
- Personalized genuine service
I’m not discounting the importance of business development.
I’m simply saying that you should not take your retained revenue for granted.
Your existing customers still need to be nurtured too.
At the end of the day, my takeaway for you is that the difference between a contact and a contract is the “R” which stands for “Relationship.”
Take care of your customers and they will take care of you.
I hope this microlearning is meaningful to you.
Good luck and good selling.
At RCGWorkgroup.com, we specialize in delivering customized evidence-based sales training derived from empirical data that we distill into bite-sized and digestible nuggets of learning in accordance with adult learning theory to empower sales teams to optimize their performance.
If you liked what you learned here today, why not drop us a message and see what RCG Workgroup can do to improve your sales team’s performance?