Whenever there is a discussion about customers, it mostly centers on attracting and acquiring them. Seldom do people or businesses talk about managing current customer relationships Canada Phone Number List.
However, it turns out that retaining current clientele is far more profitable than attracting new ones!
How to Manage Customer Relationships?
As per Outbound Engine, acquiring a new client is five times more costly than retaining a current one. And boosting customer retention by merely 5 percent can help improve company profits by a whopping 25-95%
Respect your client’s time
As per Professor Nass, the co-author of the book “The Man Who Lied to His Laptop: What Machines Teach Us About Human Relationships,” people tend to remember negative experiences more vividly than positive ones.
This is why the chances are that you remember all too well about the restaurants that made you wait for too long before serving food. Would you like to go back to the place? Probably not!
Waiting time isn’t just detrimental for the hospitality industry. Instead, people, in general, don’t like waiting too long. This includes in retail outlets, when on the call with the customer support, or when visiting a company for a meeting.