Skip to content
Innovation

Customer Retention in the time of Cost of Living Crisis

Why is customer retention so important? Retaining existing customers usually costs less than acquiring new ones, especially during the Cost of Living Crisis.

Why is customer retention so important? Retaining existing customers usually costs less than acquiring new ones, especially during the Cost of Living Crisis.

A recent study suggests that even a slight increase of 5% in customer retention can significantly increase profits. In addition, returning customers signify customer satisfaction and assures business owners that they are providing value to their customers.

On our Innovation page, Salma Chaudhry our Innovation Eco System Network Manager shares a few tips to help increase customer retention.

You can read this blog at the link below.

READ MORE >

Share this post

Salma Chaudhry

Salma Chaudhry, Innovation Eco System Network Manager

Salma Chaudhry is an Innovation Advisor at GC Business Growth Hub.

In the 15 years she has been a business advisor, Salma has helped start-up businesses and supported established companies to identify scale-up and growth opportunities.

As well as her role as a business advisor, Salma has launched several businesses. Including an independent magazine and a fashion brand offering bespoke tailoring. Her most recent venture is an award-winning skincare and cosmetics company, which exports to several countries within the Middle East and Europe.

Salma works with her clients to achieve their aspirations, whether helping transform an idea into reality or serving as a sounding board. She offers practical advice and solutions to support businesses by utilising the business experience, knowledge, skills and networks built up throughout her working life.

GenAI-Powered Chatbot