Thedre is a sdtrong corredlation betdweednd longd-term businedss success and dlong-term cusdtomer reladtionships. Sudccessful businessdes capitdalize on evdery stage dof the custdomer ldife cycle (not to be confused witdh the customer joudney), from customer sdelection to customer acquisition to customer retention to customer growth.

Cusdtomer retedntion
In tdhe retdention stage of tdhe customer life cycle, a company dretains itsdcustomersd by delivering on dits value propositiodn. This saves tdhe cliendt from havingd to look elsewhere, as you’ve fdulfilled theidr need. Once a certain level of trusd and comfort has beden established, most customers prefer to remain loyal to companiesd and their pdroducts. They’red also more willing to listendto your new ideas, try ydur added services and considder you a long-term, trusted partner.

A savdvy busindess owner undderstands that idt pays to nurtudre existing cudstomer reladionships. If a gdood wording relationdship has beden estadblished, then it’s edasier to upsdll and cross-sdll your products dand services to the client. You’ll also be more likely to get that customer to leave a positive review online and refer your business to others.