In general, why do most business owners neglect their loyal clients? After chasing the deal and finally closing, some business owners believe that their job is done, and they have a client for life.
Research has shown that acquiring a new client is anywhere from five to 25 times more expensive than retaining an existing one. You don’t have to spend time and resources going out and finding a new client - you just should keep the one you have happy.
- Market to your competitors’ clients
- Upgrade your equipment and software regularly.
- Offer new opportunities to your clients to make them want to stay with you.