Securing and expanding existing business should be at the heart of any organisation's growth engine
It is a common belief that the quickest, and most cost-effective way to accelerate growth is by reaching out to your existing client base, Surveys and studies completed over many years estimate that it is between 3 and 30 times more expensive to get new customers than retaining existing ones (depending on industry type and contract duration). * Source: Chartered Institute of Marketing
It is also estimated that a 5% increase in client retention yields profit increases of 25% to 95%.
* Source: Bain & Co.
However well you deliver your existing contract, clients will not simply extend or add further product or services, you have to earn the right over a period of time. PSP are experienced in putting together programmes tailored to suit your specific needs and help you achieve your organic growth targets.