Improve Customer Retention

Inbound Customer Service – Because it Cost More To Find a New Customer Than to Keep One

Fact: It costs 5 times as much to acquire a new customer as it does to retain the ones you already have.

We are often times amazed at how little emphasis some business place on the retention of existing customers as compared to how much they invest on the acquisition of a new client. One study showed that 66% of active customers would happily spend more money with a business that provided excellent customer service – which clearly means existing clients can increase in their value if you keep them. What defines good customer service may vary but in the end it comes down to giving your customers what they need when they need it with little effort on their part. Moreover, good customer service isn’t usually costly and it can be delivered in the form of outsourcing a company to answer customer calls after hours, email chat support, help desk support, or even a reward program for continued long term business.

Get this, a whopping 65% of consumers define their dissatisfaction as being left on hold for a long period time. We all hate to be put on hold, so then why do we turn around and allow our customers to wait for extended periods of time to get help and support? The infographic below shares a third party study on the root causes of poor customer service and hopefully it can lead a few “customer oriented” business owners to build in solutions to remedy the bad experiences that may be costing them customers and slowing business growth.

Tips For Improving Customer Retention

You may be surprised to learn that something as simple as a 24 hour answering service can have dramatic effects on customer retention, and if you’re like most people you discover that the cost of a call answering virtual receptionist service is surprisingly low (usually around $0.75 a call). Today’s call centers can screen calls, process sales orders, schedule appointments or even dispatch emergency service calls. The good news is there’s no hardware or software to install, and you simply press a couple of buttons on your phone and your telephone calls are forwarded on demand to a live operator that literally functions just as your staff would. Interested in retaining more customers? Learn more today – you’ll be glad you did.

Answering Service Quotes

Author: Michael Cynar

Michael Cynar has over 30 years of executive call center and answering service experience. He is a successful business owner and lead generation expert and shares tips to help other entrepreneurs build and grow their business through leads generation and lead capture solutions. His mission is to share carefully guarded marketing tips that will help small-medium business compete on a smaller budget.