For people working in Sales, the primary objective is to find new ways for the organization to grow revenue. In this quest, they are so engrossed in attracting new clients, that they often ignore or fail to effectively nurture existing clients. The investment put into customer acquisition far exceeds that of customer retention. Businesses often succumb to the idea that their product or service is excellent to retain customers and they need not put in any extra efforts to retain their existing clientele. However, with the stiff competition in the market, the lack of nurturing of existing customers can prove to be a great pitfall and lead to a product decline.
