and have broad experience crosswise

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and have broad experience crosswise

ViestiKirjoittaja bacfsa » 15.11.2019 09:06

The first time I read the statistic Daniel Murphy Youth Jersey , I was having a quick bite of breakfast before scooting off to run a seminar at the Houston office of a customer service consulting client.

?It costs five times more to attract a new customer as it does to keep an existing customer? bellowed the article in the Houston Chronicle.

?Wow!? I thought. That's a lot.

But then, that statistic bothered me, for several reasons:

(1) Who said so? On what authority did they say it?

(2) How much, in dollar terms, are we speaking of?

(3) What business or industry is keeping the customer?

(4) What business or industry is attracting the new customer?

(5) What measures are being used to determine sales costs versus retention costs?

Anyway, I put these concerns aside for some time Carlos Gonzalez Youth Jersey , and until I saw the same assertion, yet it said: ?It costs ten times? as much to get a new customer.

Well, inflation is kicking up, but then, wait a minute!

Let's research this point. I went to Google and asked the question: ?Costs of keeping versus losing customers??

The results varied. One source, a college business journal Wade Davis Womens Jersey , which would be expected to track down these claims, actually perpetuates the confusion by saying:

?It is generally accepted that it costs a business anywhere from five to ten times as much to acquire a new customer as it costs to retain an existing one. Some studies have estimated that U.S. organizations lose half their customers every five years and that a five percent incremental improvement in customer retention rate could double profits. On the downside, disloyalty is estimated to decrease corporate performance by 25 to 50 percent.?

I don't ?generally accept? statistics on their face value, nor should you.

If you really want to know the value of a customer, track it for yourself in your own business.

Then, you'll really know what you're talking about and you'll be able to allocate your training and marketing resources Jon Gray Womens Jersey , appropriately.

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