100% customer retention simply does not exist in the real world. Every business has lost customers for many different reasons. Some go to competitors, others move out of your service area, some will quit using your product or service, a few will pass away, and a few more will no longer be able to afford what you’re offering.
That’s just the reality of the situation. Therefore, if you are not actively trying to grow, then regardless of how great your retention and loyalty programs are, your business will naturally shrink on its own.
Every Customer Bucket Has Leaks
The analogy that everyone is familiar with is the leaky bucket. No matter how hard you try, your customer bucket will always have a few holes in it because of events outside of your control (i.e. death is the most obvious one not in your control).
Right now, as you read this, your business could be shrinking — unless, of course, you have systems in place to generate new leads and customers on an ongoing basis. Knowing this, then shouldn’t your number one priority be to figure out how to turn on the “lead generation faucet,” so you not only replace your inevitable lost customers, but you actually grow the business year over year?