Why do some companies rise to the top of their industries and dominate year after year, while others struggle for profitability and survival?
Customer loyalty research has shown that most companies lose 45% to 50% of their customers every five years, and winning new customers can be up to 20 times more expensive than retaining existing customers. Moreover, just a 5% reduction in the customer defection rate can increase profits by 25% to 85%, depending on the industry.
Given the above claims, it is imperative that you know what makes buyers and specifiers choose one supplier rather than another. On your behalf we need to ask the right questions and devise techniques to obtain the right answers.