Five ways to build return business
Return business is good for your bottom line and is therefore important to you. It costs five to twenty-five times as much to bring in new customers as it does to retain existing clients and this churn rate, the percentage of customer retention, not only impacts your financial margins, but your reputation. For consultants, contractors, sub-contractors and other service providers in the building industry, your reputation for quality work – or not – has incredible influence on your ability to acquire new orders and contracts, and keep existing work. Strategic investment and intentionality in building return business is key to your success. Use this list to give your operations a check-up and highlight any areas that need to be adjusted, or where you have room to grow and excel.