Why Reducing Customer Turnover Should Be a Top Priority

first_imgcustomer turnoverEarning new business grows harder as your competition increases, so work to reduce customer turnover by keeping more of your existing clients.Jonathan Farrington, Senior Partner at Jonathan Farrington & Associates and CEO of Top Sales Associates, writes that “most companies do not face up – or do not want to face up – to the potentially high cost of” customer turnover. Farrington cites a survey that found that 68% of customers who changed suppliers did so “because of the poor attitude of the supplier.” Instead of focusing so much on winning new business after landing a client, companies “must nurture existing customers and try to minimize problems and inconvenience for them.” So, to reduce customer turnover and keep more of your existing clients, you have to “work to continually earn the right to their business.”AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to PrintPrintShare to EmailEmailShare to MoreAddThislast_img read more