"Referrals from loyal clients have a 7% higher retention rate" - CPA Journal
When a CPA firm successfully retains clients who were referred, it not only ensures a continued stream of revenue but also amplifies the initial investment made in acquiring those clients through referrals. Retained clients are more likely to engage in additional services, leading to increased billable hours and potentially higher fees. Moreover, satisfied and loyal clients are more inclined to refer new clients themselves, creating a positive cycle of client acquisition and retention. The long-term relationships fostered through client retention contribute to the firm's reputation, client base stability, and overall financial success, making the investment in client retention highly valuable for sustainable growth and profitability.
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