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What is the best definition of Customer retention?

Posted on by Jon Ane

By Jon Ane

Customer retention is the act of pampering actual customers so they will continue buying from your company. The act involves special offers, promotions and extra services meant to warm up relationships and prevent customers from abandoning your business. It is a rather common act not only on hibernating customers but also on active customers as well.

According to Forbes, the advantages of selling to existing customers includes the following:

  1. Attracting new customers is five times the cost of retaining existing ones.
  2. Existing customers are 50% more likely to try a new product.
  3. Existing customers spend 31% more than new customers.
  4. The probability of selling to an existing customer is 60 to 70%, while a new prospect is 5 to 20%.

However, do make sure all tactics and means in use would create synergy with your G-POST. Or else you might jeopardise it all. For more information, visit Jon Ane, The Rosetta Stone of Strategy.

www.cherry-pix.com/golden-path-of-strategy-35-stages-attack-complex-reality/187760/

G-POST STRATEGY TOOL – strategy – “The G-POST is a systematic orientation tool that creates a long DNA-like chain – a Cord of Strategy that includes all the needed instructions to plug in Strategy to tactic and tactic into prolific reality. “  Jon Ane, The Rosetta Stone of Strategy.

G-POST STRATEGY TOOL – strategy – “The G-POST is a systematic orientation tool that creates a long DNA-like chain – a Cord of Strategy that includes all the needed instructions to plug in Strategy to tactic and tactic into prolific reality. “  Jon Ane, The Rosetta Stone of Strategy.

Jon Ane