BizSugar.com › Customer Service › How To Keep Existing Customers

Given it costs between five and eight times more to acquire a new customer than it does to keep an existing customer the issue for many businesses is how to keep existing customers happy and onboard. Levels of service obviously have a major impact on customer retention but perhaps less obvious is the impact of ongoing communication. Research shows that over 60% of existing customers’ state they move suppliers simply because they either do not feel valued or their supplier does not communicate with them on a regular basis.