- Retained customers are more profitable. It costs less to sell to them, so they really impact your bottom line.
- Over-the-top customer service almost NEVER fails to pay off, and it improves your customers’ LTVs.
- When you lose a customer, you don’t just lose a sale—you lose his entire LTV—all his future sales and his referrals.
- Improving retention rates dramatically improves LTV.
- A customer’s order quantities and values increase proportionately with retention.
- Retention rates increase year after year. The longer you’ve got a customer, the longer you tend to keep him.
- Repeat business doesn’t simply “speak” volumes about your company; it screams them.
The bottom line: Keep growing and strengthening your customer relationships. It is the surest way to boost your profits.