Client at shop paying at cash register with saleswoman

Customer Retention

It is said that is its easier to keep a customer than to find a new one. Many times, business owners are so focused on increasing sales by gaining new clients, they sometimes neglect the ones they have. Providing great customer service does not guarantee customer retention. Having an effective customer retention plan does.

A customer retention plan may encompass:

Customer Service
Customer Interaction
Customer Expectations
Tracking Customer Satisfaction
Building Customer Loyalty
Change Based on Customer Feedback

Earning your customer’s business is something you need to do everyday. A customer may purchase from you once based on many factors. But having that customer loyalty – where the customer purchases time and time again – is what you are striving for.

A customer retention program may not just be about coupons and discounts. It's about communication with your customers and getting feedback on how to better serve them. Then, making constructive changes (if realistic for your business) to enhance that customer’s experience.

Each industry may be different, and have different ways to address customer retention. Below are a few links to explore.

Fostering Customer-Focused Innovation

Five Customer Retention Tips for Entrepreneurs

Customer Acquisition vs. Retention Costs – Statistics and Trends

Resources

We encourage you to take advantage of free/reduced priced training and complimentary counseling services available here in northeastern Missouri, featuring resources to help grow your business! Have a counselor contact you, or call 660-665-3348 to make an appointment.

About MREIC

Missouri Rural Enterprise & Innovation Center is funded by the Missouri Technology Corporation, a public-private partnership created by the Missouri General Assembly to promote entrepreneurship and foster the growth of new and emerging high-tech companies. MTC focuses on 21st Century bioscience industries that build on Missouri’s rich history in agriculture and technology. These areas of focus include: Animal health, Applied Engineering, Biomedical Science, Defense and Homeland Security, and Plant Science.

Our local supporters include: Adair County, A.T. Still University, City of Kirksville, Kirksville Area Chamber of Commerce, Kirksville Regional Economic Development, Missouri Department of Economic Development, Northeast Regional Medical Center, Small Business & Technology Development Center and Truman State University.

MREIC encourages regional economic growth based on commercialization of innovations in Northeast Missouri. We provide support to new and established entrepreneurs through both one-on-one advising as well as connections to workshops, funding resources and technology development solutions. We actively pursue a communications program that creates a broader understanding of the role of entrepreneurship in our economy. Through our business incubator located in the basement of our building, we are organizing a network for idea exchange opportunities among entrepreneurs— contact us to join in.