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IDEA | Integrated Development of Existing Accounts order in Redding
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IDEA | Integrated Development of Existing Accounts

IDEA | Integrated Development of Existing Accounts

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How do you retain your current customers today?

We know it's much easier to keep good customers than to try and replace them. The issue is "what are we doing about it?"

It has been proven that acquiring new customers can cost five to seven times more than retaining current customers.

•A 2% increase in customer retention has the same effect on profits as cutting costs by 10%

•The average company loses 10% of its customers each year. The customer profitability rate tends to increase over the life of a retained customer.

•A 5% reduction in customer defection rate can increase profits by 25-125%, depending on the industry.

The Struggle to Differentiate

More than ever, companies struggle to differentiate themselves in a market place that bombards customers with the latest and greatest incentives. Countering this onslaught puts additional emphasis on reaching out to your customers with the right message at the right time in order to reduce churn. This focus also results in maintaining proactive communication at the most critical times to keep your company top of mind. These types of communications can also be used for win-back programs, service/contract renewals, loyalty rewards incentives, new service offers, and much more.

Retaining Customers Through the Downturn

Focusing on how you sell instead of just relying on product, brand, and service excellence can increase customer retention by up to 20% and shorten the sales cycle by 30%.

How do you deepen relationships and drive growth when customers pull back?

A group of more than 5,000 individuals within U.S. Corporations were recently surveyed to find out what makes them willing to:

•keep buying from that supplier.

•Buy even more over time.

•Advocate on that supplier's behalf across their organization.

The results revealed clear, if somewhat unexpected, strategies for winning that kind of loyalty in a down economy.

It's Not What You Sell, but How You Sell It

Contrary to conventional wisdom, customer loyalty is not necessarily tied to just product quality, brand recognition, and service excellence. While those things matter, customers place significantly greater emphasis on satisfaction with the sales experience itself when committing to a particular supplier (accounting for 53% of a customer's overall loyalty).

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IDEA | Integrated Development of Existing Accounts
IDEA | Integrated Development of Existing Accounts
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