Balancing customer retention and addition
Written by HmD on 6/04/2009 08:48:00 AM
It is important to maintain the correct balance between keeping your current customers and adding new customers to your business. It is easy to get scared during a recession and seek to divert all your revenue to keeping the customers you have, however, during a recession, it is best to balance both initiatives because there will always be new customers due to the development of new industries and business's as people try to cope with the recession. With new industries comes new business, new revenue and the possibility for a new customer base.
So try to keep your old customers, however, ensure that you have a program to get new customers.
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