Why is customer retention more important than winning a customer?

[Min George]

Many business experts are of the opinion that the ability of a business to retain customers is more important even than wining customers.

Why is customer retention considered more important than even winning the customers?

 

[Fidelia]

Someone can just stumble into your shop and buys. The real work would be making the person to come back some other time to buy.

 

[Augusta]

Acquiring a new customer can cost more than retaining an existing customer. But retention is always a difficult task.

 

[Kross]

It might be easy to convince someone to try your products or services out, but it takes more to make that customer a repeat customer.

 

[eLdavis]

It is one thing to be able to attract customers, but retaining them? That's another work on it's own and the only way to be successful while running a business is to retain them.

 

[Min George]

Even when you serve a customer excellently, there are many other factors that determine if they would be retained.

 

[Springtime]

Actually, both are important. Retaining a customer enables your business to sustain. Without new customers, your business cannot expand.

 

[Starmix]

When you can win a customer most likely, they will retain. That's the power of the boomerang. Your customers are assets so they need to be appreciated. That's what they like to win them.

 

[Augusta]

It is the best way to increase revenue because you can avoid the losing time and money required to attract, educate, and convert new customers.