Maintaining positive experiences and relationships with customers is crucial for a business’s cash flow and sales growth. According to research done by Bain & Company, increasing customer retention rates by 5% increases profits by 25% to 95%. Overall, pointing to the fact that an increase in customer retention can lead to a huge increase in profits
Customers are less likely to return if they have negative experiences with your customer service. Therefore, it is essential to allocate resources in your business’s operational plan to train employees to provide exceptional customer experiences and to focus on hiring individuals with the right skills and a passion for serving customers.
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