Post summary:

• The difference between companies that grow and those that don’t is customer retention. The more customers that you can keep and continue to sell to, the more likely you are to achieve your business goals.
• Investment in customer acquisition far exceeds investment in retention for Corporate Companies. Yet, selling to an existing customer is 6-7 times cheaper. So, why are companies spending most of their budgets on generating new customers?
• The biggest challenge for many companies is where to begin. Here, we share 5 customer retention strategies that you can use to keep your existing customers happy over the long-term and increase profits.

For any B2B organization, the number one priority is to find new ways to increase revenue. They do so by investing heavily in marketing and sales efforts to acquire new clients.

If we were to take a step back and think about Pareto principle and analyze where most of our business came from in a specific time period we will in all probability find out that only 20% of our entire clientele was responsible for 80% of the revenue that came in.

With growing competition across all industries and the constantly evolving business landscape, it is now more difficult than ever to retain clients. The conversation has moved online, even within the B2B space and clients are constantly being exposed to information coming from numerous companies about similar or identical products which serve their needs.

How then can you retain clients better and actually increase the revenue you receive from them, firstly ensuring that your product is up to date and can actually solve problems and compete with others in the market but besides that, One Word – EVENTS!. Events which are focused towards client retention only. Relationship building still exists.