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The Center for Sales Strategy Blog

The Importance of Customer Retention in Improving Revenue Performance

The Importance of Customer Retention in Improving Revenue Performance

Over the past several months, I've increasingly heard from salespeople and sales leaders that business has slowed. Deals are taking longer to close, and accounts are hesitant to make long-term decisions. With this shift, and the need to drive more revenue, the focus on acquiring new business has increased.

While new business development is crucial for growth, many forget the importance of retaining the business they have worked so hard to acquire and develop! Getting new accounts in the door will add revenue, but it will have less of an impact if you are simply replacing dollars from existing accounts – think of trying to fill a leaky bucket.

Topics: client retention revenue performance

Outside The Box Ideas for Better Client Retention

oung woman unpack the package she ordered online

Client retention is and will always be pivotal for the success of businesses.

In fact, client retention is a true measure of the experiences an organization delivers to its clients. Based on these experiences, clients or customers decide if they want to continue business with a given firm or not.

In other words, a company’s ability to retain its customers has a huge impact on revenue generation and profitability.

Topics: key account growth client retention