Most businesses work very hard to market and attract new customers. However, few organizations work as hard at keeping those customers and many of those customers fall through the cracks and don’t come back. Studies show that it costs 5 to 7 times more to get a new customer than the cost of retaining a customer you already have. Loyal customers will buy again and again and they will also tell their friends and others.
In today’s world, organizations should take responsibility for their hard fought for customers and watch out for them. Take care of them and love them. Continued success will come through their referrals, retention, and repeat business.