4 Tips for Holding Onto Customers During the Pandemic
Ensuring retention is even more important than monitoring sales.
By Andrew Medal •
Opinions expressed by Entrepreneur contributors are their own.
As soon as crap hits the fan, most businesses look at what services to cut (to drop costs) or how to sell more (to generate more revs), but the most important and sometimes overlooked segment is figuring out how to retain and keep your current customers. For every founder, customer retention should be the name of the game. It's more important than sales because it's easier to keep a customer than to find a new one. In fact, acquiring a new customer can cost up to five times more than retaining an already established one. Unfortunately, in the age of Covid-19, many businesses (especially startup founders who have lower margins for error) are struggling to maintain profits and drive sales.
To help with that, I've created some quick tips to help other founders retain customers and drive revenue amidst this moment's obstacles.
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