When it comes to the value of client retention, the numbers never lie.
For instance, studies have found that a 5% customer retention rate can spell a 75% rise in profitability for a business. Additionally, 20% of your present customers will make up about 80% of your future revenue. Lastly, marketing towards new customers costs five times more than keeping existing ones.
These findings mean that businesses should never underestimate the worth of their existing clients to their continued success. Companies should put in serious effort into making customers feel valued and acknowledged, and plain, generic corporate communications is a sure way to drive them away.
One of the best ways to personalize communications is by sending them custom business thank you cards. Doing so accomplishes several things: keeps them informed, gives them a tangible reminder of why they are staying in business with your company, and deepens connections while fostering loyalty.
More importantly, receiving personalized cards lets them know that sales is not the only thing a business wants from them, but that engaging with them in meaningful ways is also one of the company’s priorities.
When client retention brings so many benefits to a company, it’s just good business sense to make sure that you make your customers feel as wonderful as they make you feel, too.