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.

 

[Stardom22]

Customer retention is the most important thing in businesses. When the businesses gets like more loyal customers the business tends to grow with ease compared to the one that doesn't have.

 

[Trush Jodie]

Customer retention seems to be difficult because there are so many competitors and options available to your customers for the same products that you sell.

 

[Augusta]

While the focus of acquisition is to get new customers for the business, retention is about engaging the existing customers and keeping them happy.