It is important to understand the degree to which your customers continue to buy from your business. Customer retention is a critical factor in profitability. When a customer leaves to buy from a competitor, there is usually a reason or set of reasons why they left. In many cases the customer goes elsewhere without a hint there might have been a problem. It is important to track sales by customer so that trends in buying can be spotted. When a customer begins to buy less, it is important to find out why. Sales reps should have first hand access to data that provides these trends. When a customer begins to show signs of buying elsewhere, the rep or someone else should be in contact with them immediately. Obviously, in some cases, the rep is the problem and management will need to deal with that issue.
Good Luck & Good Selling!
Russ
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