Your business’ value is directly related to your ability to hold on to customers

Your business’ value is directly related to your ability to hold on to customers. The more recurring revenue that comes from existing customers, and the more “automated” that money is (i.e. doesn’t require a great deal of management to generate), the higher the premium an acquirer will pay for your business (generally speaking). But wait…there’s more! Recurring revenue lowers your marketing costs, it lowers your sales costs, and those customers are a great source of inspiration for your innovation.

You probably know all that already, so are you investing enough in cultivating those long term relationships? Are you actively and EFFECTIVELY marketing to your existing customers? Are you designing your product or service so that you can easily generate periodic revenue? Are you investing in developing an unsurpassed customer experience so that they don’t go elsewhere?

Your best customers are your competition’s best prospects, and they are FAR too important for you to lose. Make retention your top marketing priority.

Go get 'em

Ingar