One In the Hand or Two In the Bush? Better Retention Adds More to the Bottom Line

In sales, there is often an understandable drive to get new customers. But, problems arise when that drive becomes an obsession and there is a failure to invest time and resources in nurturing the customers you already have. Growth and success come from more than just landing new clients. Think of that old saying, one in the hand is worth two in the bush. Retaining current clients and giving them the best possible experience to increase their sales potential can be a more efficient means of fattening your bottom line.

We’re not suggesting you shouldn’t add new clients. All businesses, Apex Trading included, need to grow their number of clients. But, what we are pointing out is that taking better care of the clients you have can be just as important as finding new ones. In fact, if you think about it, improving retention rates will drive new business. That is, retained customers that would have otherwise fallen off without your retention efforts will make purchases that wouldn’t be on the books had they moved on.

Crafting a great product that delivers value goes a long way in retaining your customers. In fact, this should be your number one priority, whether you’re thinking about retention of current customers or acquisition of new ones. When you have fire at a price that makes sense, it’s hard not to take notice or leave once you have.  

Next on the list would be creating an easy way for them to shop and order your products. And, “easy” means a straightforward, standardized process to get them what they need quickly and efficiently. Something that eliminates back-and-forths, ensures inventory is accurate, covers the details of the product, and includes all required documentation. When you have this type of system in place, you reduce friction that can, over time, wear on the buyer/seller relationship. This is where Apex Trading can help. We have the tools you need – inventory management, customizable, branded storefronts, standardized invoicing, etc. – to make your customers’ ordering experience as painless as possible. Sign up for a quick demo to learn more.

Beyond great products and an outstanding ordering experience, focusing on customer success in addition to customer service will help you keep those hard-earned clients. To explain, customer service is often reactionary – a customer has an issue with something and you work to resolve the problem. Customer success, on the other hand, is where you take a proactive approach. Instead of just putting out fires, you reach out to customers when things are going well to help them succeed and add value to the relationship. When your interactions with customers focus on helping them achieve their goals rather than only fixing their problems, you’ll strengthen the bond and create more opportunities for revenue growth.

This is just a short summary with a few ideas that can help you get more out of your current customers. If you’d like to learn more from us, please feel free to reach out to info@apextrading.com. We’re happy to discuss these concepts and more.  

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