7 Devastating Customer Retention Mistakes (and How to Avoid Them)
Over time, some customer attrition is inevitable. Even if you deliver a stellar customer experience at a remarkable value, sometimes people’s needs and tastes change.
With that said, accepting a high customer attrition rate makes it much harder to grow year after year and stay ahead of your competitors.
Some businesses get so focused on bringing new customers through the door – understandable, seeing as it’s key early on – they never quite get around to plugging up the holes where existing customers are slipping through the cracks.
Low retention brings with it some serious pressure. You have to work hard to constantly make up for lost ground – much less expand your customer base.