Did you know that it has been estimated to cost around five times as much to attract a new customer, than it does to retain an existing one? This is why it’s important to focus on retaining your current customers by offering ongoing value while building loyal relationships with them. Maintaining strong relationships with your existing customer base brings numerous benefits, including avoiding expensive and effort-intensive prospecting and acquisition campaigns.
If your business is already utilising recurring direct debit payments, you’re on the right track. Here’s how to get the most out of your current customer base to help unlock stronger growth potential.