It’s budget time!
If the calendar year is your budget year, you are probably waist-deep in the budgeting process. I know I am. How fun! Revenue projections… Scheduling major projects and expenses… Non-profits are holding 2023 dates for fundraisers… Companies are planning new product announcements… Everyone is looking at marketing and communications, from simple social media tweaks to website overhauls.
There is so much to consider.
Make sure you don’t overlook retention costs and their positive impact on your budget and bottom line.
How are you budgeting for employee, client, customer, or member retention?
According to Forbes, a small increase of only 2% in customer retention is the same as a 10% reduction in costs. That’s hidden savings in your budget that’s easier to implement than going line by line trying to reduce costs.
What can you do?
To make your retention strategy even easier, Favorable offers a turnkey solution. I have worked with many companies to formulate a yearly Connection Plan. My tactical Connection Plan targets thanking and engaging your company’s most important people, including clients, customers, and staff, at a precise pace and schedule.
It’s a true win-win. I can simplify your budgeting process while also improving the retention rate of your clients, customers, and staff through simple connections and tokens of appreciation.
Until we chat again,