Did you know that it's five to 25 times more expensive to acquire a new customer than to retain an existing one?
On top of that, improving customer retention rates by 5% can increase profits by 25% to 95%.
If you ask me, these are numbers that I certainly wouldn't ignore.
Unfortunately, far too many companies focus almost exclusively on net new sales and customer service remains just there as a given.
I see this with my agency partners at HubSpot all the time.
Of course, money in is important. You need that to keep the business running but if you want to scale an agency, sales and services need to be on the same level. Keeping your customers happy is priority number one too because that's how you ensure you have a sustainable revenue flow coming in all the time. You renew your agency-client retainers year after year because you continue to provide value.
So how do you do keep your customer happy?
With a simple framework that I call the three pillars of customer delight.