Lesson 2: Retention

Customer Retention 

Check out these statistics that show just how vital customer retention is to your business growth: 

• Did you know that it costs 5 times more to acquire a new customer than it does to retain a customer?

• The probability of selling to an existing customer is 60 - 70% but only 5 - 20% for a new prospect. 

• Lowering your customer churn rate by 5% can increase your profitability by 25 - 125%. 

• 65% of a company’s business comes from existing customers.