National research tells us that businesses spend six times more time attracting new customers than they do trying to keep old ones. Since 70% of dissatisfied customers will happily come back if we resolve complaints to their satisfaction, it’s in our best interest to do so. If a good customer hasn’t purchased from you in some time, seek them out and ask them why.
Typically, only a small percentage of dissatisfied customers will ever contact you and let you know they are peeved. The others will just walk away and never come back. To make things worse they will tell nearly 10 other people what a bum you are and one in five will tell 20 people. Ouch! Customer retention is a great way to keep our businesses healthy. Bringing back old customers is a low cost way to make your cash register ring without spending big $$$ on sales and advertising.
Let us help!
Utilize the Hot Buys Billboard ad and our terrific web team to keep your business profile fresh and current !
Footnote.. Our membership renewal rate is 87% and of the few that we have seen cancel we have already seen a good portion of those return on their own accord.. A nice phone call to take here at the office :-) Cheers.