Winning new customers is not easy, takes time and costs more (start by retaining the customers you have)

Why do so many businesses focus so much effort on new business and so little (relatively) on retaining their existing customers?

Retaining customers involves the same key tasks every business should be focused on – understanding what problems needs and wants your business addresses and who it does that for (much more easily done when you’ve got their contact details and can give them a call and ask…), what their other options are and what you need to do to remain their best option.

And it can also be a key tool in winning new business.

At our ad agency we always finished new business pitches by highlighting three key reasons a client should choose to work with us.

Third was because we won loads of creative awards, which was important because the best agency talent wants to work for agencies that win lots of creative awards.

Second was that we won loads of effectiveness awards, which was important because it meant we were actually good at helping clients achieve their Marketing objectives (which Brand Managers found reassuring…because it meant they wouldn’t get sacked…).

But we always finished by highlighting our long-term client relationships, which meant we were good to work with and did our job well.