Ryan Dohrn argues that keeping customers costs five times less than finding new ones, and you're 60-70% likely to resell existing clients versus 20% with prospects. He tells salespeople to spend an hour daily on retention work that goes beyond standard service.
Hey friends, Ryan Dohrn here, your global sales coach, and our tip of the day today is working as hard to keep the business as you did to get the business. It's all about retention. Did you know that it takes 5 times the money and 5 times the energy to get a new customer? So why not keep them for a lifetime? Let me ask you this: if you dedicate an hour to prospecting each day, do you dedicate an hour to retention each day? Wait a minute. You are 60 to 70% more likely to resell a client that already knows you, about 20% likely to sell to a new one. It takes 5 times the money and 5 times the energy to get a new customer. Friends, retention is everything. Ask yourself again that simple question. How much time are you going to spend today on prospecting? Are you going to spend an equal amount of time or more on retention activities? Remember, don't confuse customer service and retention. Customer service, now that's expected. Retention are the things you do above and beyond the call of duty to keep your clients around for a lifetime. I'm Ryan Dohrn. Friends, don't forget, if sales was easy, everybody'd be doing it, and they're not. So we're either crazy, which is possible, or we found a career that'll feed our families for a lifetime. Find out more about me, my podcast, what I can do to help your company over at ryandohrn.com. All right, friends, we'll see you next time. Bye.
