Biz-Ranking

If a small business loses customers unnecessarily, it sacrifices a potential lifetime of profits. It has been suggested that a 5% increase in customer retention can increase total company operating profits by 50%.
Existing, loyal customers are valuable because:
* They do not have to be acquired * They buy a broader range of products/services * They [...]

One of the greatest thrills in business is acquiring a new customer. Many businesses are too caught up in the excitement of acquiring new customers that they do not spend enough time or money on unlocking the value of their existing customer base. It surprises me how often business fail to regard their existing customers [...]