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5 questions to consider: The Power of Customer Retention (infographic)

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Really cool infographic from Kapow though I think it shouldn’t be a debate of which is better: retaining current customers or acquiring new ones. It should be more like realizing the value of existing customers and how much revenue they account for, while continuing to expand the new customer base.

They do raise some important questions:

– Have you evaluated your customer retention rate?
– Do you have a plan to keep your customers?

3 other questions I’d like to throw into the mix is:

– Do you have the capabilities to identify your at-risk customer in real time so your team knows which accounts to prioritize?
– Does your team maintain ongoing conversations (and I don’t mean when it’s time to renew or upsell) to establish a good customer relationship?
– Do you know how to calculate retention?

 

What is your advice for other companies looking to improve retention and growth?

Jill Rubin

Jill is a senior marketing and business development executive with experience leading successful teams in both large companies and startups. She has taken companies from early stage to strong revenue growth and propelled established businesses to industry leadership positions.

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