A pitfall is to focus more upon acquiring new business than on retaining our existing customers. There are, however, at least three compelling reasons for developing a strong customer retention program. First, we have invested time and money to find these customers; second, we’re familiar with their needs and know their ‘hot buttons;’ and third, we know their paperwork routines, that is, how and when to bill them, and when we can expect to get paid. Our start-up cost of time and money is already invested in obtaining the business and getting the account on line. It makes more sense – and dollars – to continue to service our existing clients than to find new ones and go through a start-up period again.
Some of the industry’s best reveal their winning strategies for keeping their company successful and profitable.
Mark Schwarze, president of Victory Sweepers, Inc., discusses how to deal with ‘low ball competition’ and other aspects to consider in keeping your power sweeping company operating in the black.
