Sales Training: Customer Value And Retention

Let’s face it we are in a numbers driven world.  A lot of emphasis is focused on gains especially in sales. But, often times we forget about the  existing relationships that need to be nurtured instead we create the sale and move on to the next. You see there is value in establishing long term business relationships with existing clients. Here are the advantages of retaining existing clients.

Cost Effective to Retain- The acquisition of  new customers can cost up to five times more than satisfying and retaining current customers. It’s been proven that customer retention and satisfaction drive profits. It’s far less expensive to nurture and develop your current customer base and sell more services to them than it is to seek new, single-transaction customers

Long Term Pays Off-The customer profitability rate tends to increase over the life of a retained customer.

Having more delighted customers- Effective customer retention strategies allow you to move from the zone of  delivering customer satisfaction to customer delight. It’s been proven that  certain studies have shown that customer delight is accomplished  when there is a perfect synergy between the  merchant and customer  – when the merchant can understand exactly what the buyer needs and the buyer understands what the seller can deliver exactly what he or she  needs. That should always be implemented in your sales strategy.

Upside In Referrals-  Your referrals  are the strongest leads and most cost effective way  to be converted into a sale. People are more likely to go with a product or service that someone they know has already experienced.

Especially, here in Manila. It’s stressed by most bpo’s to have proper sales training in the Philippines and the right training and development for companies to be able to foster existing relationships from business to customer relationships.