True: The vast majority of clients who leave their suppliers do so because they feel or experience an attitude of indifference and the feeling that they or their business weren’t appreciated.

That’s an astronomical percentage of clients leaving over an “impression” that may not even be accurate.

But fact is, they’re leaving, or at the lease vulnerable. Could be all it would take is a simple and inexpensive “reach out” with actions of appreciation like “personal correspondence”, like a printed company newsletter, a phone call or a physical sales call, any one of which will do wonders in making clients feel important resulting in them staying on board with you.

True: Factoring in all the marketing options, including trial and error, and which ones are the most effective, and then implementing that strategy, is not a simple, quick or inexpensive proposition.

When faced with the choices of going after new clients or adopting a ready-made solution of “mining” one’s existing client base, it becomes obvious that, without question, the most reasonable, quickest and surefire way to boost and maintain sales levels is right in your own back yard. Additionally, existing customers are proven to be the most profitable ones.

True.As startling as it seems, one out of ten clients will fail to do business with the average firm in a 12 month cycle, but reality is, this doesn’t have to be the case.

Studies show that a few common sense actions, deliberately and effectively adapted, can make all the difference in the world to significantly reduce this percentage.

Personally staying in front of and in touch with your customers is one of the most effective and surest ways to shore up your customer’s allegiance to you while garnering more business from them.

True: By reducing the attrition rate of customers, whether switching suppliers, or simply becoming inactive, has a significant impact to your bottom line.

Whether it’s 5, 10 or 25 customers that you can hold onto, you’re both saving the cost of having to replace those clients, usually at a much higher rate than what the existing customer cost, as well as improving the profit margins, which are proven to be at higher levels on existing customers as compared to new ones.

Plus, there are significant residual benefits inherent in what existing customers bring, such as referrals and additional business opportunities

True: This is a fact, for several reasons. Existing customers tend to buy more from you when then can. They have found that they trust you, your service and your quality. They also generally tend to give you the benefit of awarding you the job even when competitive quotes are lower.

Also, the processes, whether manufacturing or service processing, generally are more and familiar, thus more cost efficient.