Playbook / Lessons / Repeatable sales
Cash-flow businessRetention is easier than finding new customers
Arvid Kahl argues that keeping a customer is easier than finding a new one, since you already have a way to reach them and they are already interested in hearing from you. He describes ways to reduce churn, including showing customers the value they get, using longer billing cycles, talking to them regularly and sending thank-you notes.
“Retaining a customer is easier than finding a new one.”— Arvid Kahl, Churn, Retention, and Revenue: What Makes Customers Stick Around and Why That’s Important, Dec 2019
Do this
Send each current customer a short thank-you note this week that names one concrete result they got from you.