Why Use MTC
Why Worry About Keeping Your Customers?
- Acquiring new customers can cost five times more than satisfying and retaining current customers
- A 2% increase in customer retention has the same effect on profits as cutting costs by 10%
- The average company loses 10% of its customers each year
- A 5% reduction in customer defection rate can increase profits by 25-125%, depending on the industry
- The customer profitability rate tends to increase over the life of a retained customer
In today's competitive business world and challenging economy, retaining your customer base is critical to your success. If you don't give your customers some good reasons to stay, your competitors will give them a reason to leave.
Customer retention and satisfaction drive profits. It's far less expensive to cultivate your existing customer base and sell more services to them than it is to seek new, single-transaction customers. Most surveys across industries show that keeping one existing customer is five to seven times more profitable than attracting one new one.
The purpose of a business is to create and keep a customer. If a business successfully creates and keeps customers in a cost-effective way, it will make a profit while continuing to survive and thrive. If, for any reason, a business fails to attract or sustain a sufficient number of customers, it will experience losses. Too many losses will lead to the demise of the enterprise.
According to Dun and Bradstreet, the single, most important reason for the failure of businesses in America is lack of sales. And, of course, this refers to resales as well as initial sales. So your company's job is to create and keep a customer, and your job is exactly the same.
Using Mention This Call as an added value to your already present campaigns allows you to create a personal relationship with your clients/customers that will create the loyalty that not only keeps them coming back to you, but also sending you new customer referrals.
