For most businesses, winning new work is a top priority. But at t the same time, it’s important not to neglect one of your firm’s most valuable assets: your list of existing customers.
Depending on your industry, most sources say that acquiring new customers is 4-10 times more costly than retaining existing ones. What’s more, a loyal customer tends to be a valuable one, with figures showing that repeat customers spend 67% more than new ones.
Increasing customer loyalty is all about reminding those customers why they came to you in the first place. Loyal customers are more likely to recommend you to others and can also be a source of hints and tips on how to improve your product or service.…
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