Miller’s Monday Morning Message

Andrew MillerMiller’s Monday Morning Message
presented by ACM Consulting Inc.

Andrew Miller on operational excellence, strategy, life balance and everything in between

Toronto – February 10, 2014
Many organizations struggle with balancing the acquisition of new customers and the retention of existing customers. Even though these two are linked, the strategies are often different. When an organization wants to grow, it’s very easy to look for growth with new customers. We get motivated by bringing in new customers and closing the deal. But we need to remember two things: growth can also come from existing customers, and growth from new customers should not come at the expense of your existing customers.

Here are some things to think about:
  • Growth can come from both acquiring new customers as well as from offering more to existing customers.
  • If you focus too much on just bringing in new customers, you will erode your existing customer base.
  • Once you bring on a new customer, ensure they now become part of your retention strategy.
  • You can leverage relationships with existing customers to gain introductions to new prospective customers.
Your customer acquisition, on-boarding and retention strategies can be different but need to be strongly linked together. Don’t focus on one at the expense of the other. The most successful organizations are able to bring on new customers quickly and easily while holding onto the customers they already have.

To request an interview or more information, please contact:
 
Andrew Miller
416-480-1336
 
Follow me on Twitter @AndrewMillerACM
© Andrew Miller. All rights reserved. 2014.


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