For Subscribers

4 Tips for Holding Onto Customers During the Pandemic

Ensuring retention is even more important than monitoring sales.

learn more about Andrew Medal

By Andrew Medal

Guzaliia Filimonova | Getty Images

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.

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, get access to a ton of exclusive content and resources that will help grow your entrepreneurial mindset. You’ll find:

  • Exclusive content from our network of today’s leading CEOs and business strategists
  • Receive our flagship Entrepreneur Magazine - free!
  • No more ads, and get access to the Entrepreneur+ homepage
  • Free E-books written by our staff and other industry thought leaders

Related Topics

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.
The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy
After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.
Having Trouble Speaking Up in Meetings? Try This Strategy.
He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game
Business News

A Mississippi News Anchor Is Under Fire for Quoting Snoop Dogg

WLBT's Barbara Bassett used the rapper's "fo shizzle" phrase during a live broadcast, causing the station to let her go.

Business News

These Are the Most and Least Affordable Places to Retire in The U.S.

The Northeast and West Coast are the least affordable, while areas in the Mountain State region tend to be ideal for retirees on a budget.

Business Models

How Private Businesses Can Partner With Government Agencies To Facilitate Change

When the private sector partners with government agencies, it can create a powerful incubator for change.

Business News

Labor Department Fines Dollar General $15.5 Million for Workplace Safety Violations

Since 2017, the Labor Department's Occupational Safety and Health Administration unit has found 111 instances of safety violations after inspecting more than 270 Dollar General stores.