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Strategies to retain customers in 5 minutes

by Andrew Hanson

How much does it cost to get a new customer versus retain a customer we already have? Is it more profitable to retain a customer than to get a new customer? What strategies can we apply to retain our customers? In this article we will try to answer these questions, establish the importance of building customer loyalty and define some strategies that can help us have more loyal customers.

Market studies show that it costs between 5 and 10 times more to attract a new client than to keep an already acquired client. In addition, the probability of keeping an already established client is between 60 and 70%, while the probability of getting a new client is between 5 and 20%.

Likewise, we must take into account that the profitability offered by a loyal and satisfied customer is higher than that offered by a new customer who has no experience with our business or our products or services.

A loyal customer spends, on average, 67% more on our brand than a new customer.

Much of the success of a company is undoubtedly based on the relationships it maintains with all its customers and employees.

That is why, in any marketing strategy, the first thing to consider is what consumers need or what customers expect from our brand. And, from that point, we can develop the best strategies to retain customers and thus establish a very close and lasting bond over time.

Why is it important to retain a customer?

The objective of customer loyalty is to guarantee the growth of the business and the retention of the consumer portfolio that our business currently has. In addition, by retaining customers, we can ensure that they will continue to purchase our products or services.

But how do we retain our customers? This is achieved when users enjoy each shopping experience, when their needs are covered, when we exceed all their expectations and we also reward them for choosing us.

By making consumers happy with us, they are more than likely to recommend our brand to others, thus increasing our visibility and the possibility of increasing sales and getting more new customers.

For all these reasons, you will surely understand why it is so important to retain a customer, so keep in mind the correct strategies to achieve this important task.

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