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· Registered
470 Posts
Discussion Starter · #1 ·
Is losing one customer really a big deal? You bet! When one customer has a bad experience with your company, they will tell 11 people about the poor service, and they will each tell five more people. If only 25% of those people decide not to do business with your company, that's still 17 lost customers -- and potentially $1 million in lost revenue over their lifetime.

This was in an article I read resently, thought it might be of interest.

· Systems Fanatic
1,390 Posts
We can also lose customers when they don't have a bad experience. Customers can switch companies because they weren't "wowed", forget who they did business with, or can't find the company.

The last 2 point to the importance of retention marketing. Keeping in front of past customers is a very easy and cost effective way to retain customers, even if they weren't "wowed".

We've done a newsletter for the past 8 years, and it keeps our marketing cost at an embarassing low level.

Brian Phillips
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