Fueling growth from existing customers
It is a well known fact that it is much more expensive to acquire a new customer than retaining an existing customer. But as they say, common sense is not so common. We find that businesses are going out of their way to attract new customers by offering them great deals. I do not think there is anything wrong in this, but when you exclude the offer to your existing customers, you are inviting trouble. This is a very important reason for customer loyalty to become so rare. There does not seem any benefit for customers to remain loyal anymore as […]