The Value of Keeping Customers & Earning Referrals
Lee Pemberton
Stop spending big dollars your simply cannot afford in your efforts to continually develop new customers!
Instead, use affordable educational marketing tactics to build strong relationships that will get even more business from the customers you already have as well as earn a higher level of referrals from them!
As a bonus, you will find that educational marketing tactics cost you far less as they draw repeat business & increased referrals from your valued customer base.
In addition, this increased business from your current customers tends to be much more profitable!
BOTTOM LINE:
Strengthening relationships with better communication by using educational marketing tactics will increase the amount of business your customers do with you and the number of referrals they give you consistently over time.
FACT: At least Two-Thirds of your businesses prospective revenue (and referrals) comes from current, satisfied customers
FACT: Boosting Your Customer-Retention Rate by 2 Percent has the same effect on your profits as cutting your costs by 10 percent!
(Have you ever figured what it costs you to get a new customer?)
Why Educational Marketing?
Most of us don't do business with people we don't trust. Even if you have the lowest prices, if your prospect doesn't trust you, it will be difficult to close the sale. This is the basis for Educational or "Education-Based Marketing".
The lifeblood of every business is the relationship it has with its customers. Businesses with strong customer relationships grow and prosper while those with weak or nonexistent customer relationships struggle to survive.
FACT: If you don't establish a dialogue with your customers, you quickly risk losing the 19 percent who on average are somewhat dissatisfied with your service but don't complain.
Keep in mind, that simply by cutting your average yearly loss of customers by just 5 percent, you could add as much as 100 percent to your bottom line!
Pay attention! In the next few years, the most important thing that everyone in all professional service businesses will have to learn is "customer retention". Customer retention has been discussed a lot over the years. However, in the future it is going to become absolutely the most important ingredient in your marketing puzzle.

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