Logo Andy Sokol
Customer Relations and Why They Matter 

You’ve probably already heard of the statistic from the U.S. Small Business Administration… It says roughly 80% of all new businesses fail in their first year, only half of the remaining 20% are still in business after five years and only 1/3 are still in business after 10 years.

 

Why do you think that most businesses fail?

 

Essentially they don’t know how to retain their clients to come back over and over again. They don’t know how to get their current clients to refer them more clients that will also come back over and over again.

 

Other recent statistics from The Business Insider 2017 most importantly include:

 

    • 62% of small businesses are investing 4% or more of their revenue on marketing
    • 66% of small business owners say that finding new customers is a top concern

Most small businesses focus on increasing revenue:72%, to be exact, but they also see a great value in establishing new customer relationships ‐ 60%, and marketing and advertising ‐ 46%.

 

Here’s the thing: Only 28% of small businesses surveyed, just 28%, said they were putting most of their budget into customer retention.

 

That means that only 28% of the business owners even understand that client retention is important!

 

There’s a huge disconnect. This is a major problem, and they might not even realize it. It all comes down to client relationships, bringing customers back over and over again. This one aspect of your business, client retention, can make or break your business and can be the factor that makes your business fail‐proof.

 

The purpose of me passing on these very important business concepts is so that you don’t become part of those previous failure statistics. I want to give you that competitive edge to help you have plenty of money in the bank for generations to come. I know this from firsthand experience.

 

To learn more about how I became America’s Client Retention Expert, click here.