Understanding the Importance of Customer Retention Customer retention is a critical aspect of any successful business. While acquiring new customers is important, retaining existing customers is equally, if not more, crucial. Not only does it cost less to retain a customer than to acquire a new one, but loyal customers also tend to spend more…
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Introduction Customer retention is a crucial aspect of any business. It is not enough to simply attract new customers; it is equally important to retain existing ones. In fact, studies have shown that it can cost up to five times more to acquire a new customer than to retain an existing one. Therefore, businesses must…
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