Any business owner will tell you that customer retention is low-hanging fruit. Understanding how to create loyal customers so you can retain them is one of the most beneficial things that you can do for your business. Industry pundits say that companies place a greater focus on customer acquisition than they do on customer retention, despite the fact that it can cost 7 times more to acquire new customers. The average business loses about 20% of its customers annually simply by failing to nurture customer relationships. In some industries, this leakage is as high as 80%. The cost is staggering, but few print service providers have focused on the implications.

Savvy businesses know that they can build a loyal customer base by providing extraordinary value-added customer service. The ultimate objective of every business is to keep customers so satisfied that they tell others about how well they were treated when doing business with you. Graphic communication service providers of all sizes must move their offerings into the realm of the extraordinary by delivering higher-than-expected levels of value and service to each and every customer. This means ease of access, rapid customer response, consistent on-time delivery, delivering on promises, a zero-defects and error-free-delivery process, and enhanced return on investment from print and cross-media spend. Extraordinary service builds fortunes in repeat customers, whereas poor service and perceived value will drive your customers to the competition.

If you are a graphic communication service provider, the keys to customer loyalty are two-fold. You must offer services to clients and also have the right workflow tools to meet expectations. InfoTrends recently completed a study entitled The Evolution of the Cross-Media Marketing Services Provider, which surveyed more than 280 print service providers. 58% of these respondents were offering some form of cross-media capabilities (print, online, social, and mobile) with varying degrees of success. Another 29% were planning to add cross-media to their portfolio in the next 12-24 months. Successful providers are experiencing 9%-10% increases in revenue from value-added services and over 13% growth in digital print volume. The rationale for expanding cross-media services is simple—the right service portfolio links directly to customer retention.