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Why Measure - How Important is Customer Loyalty?
Where are you focusing your resources?
Most companies spend huge amounts of money attracting new customers while continuing to lose existing ones. But retaining current customers is far less expensive than generating new leads. No company can grow with a leaky customer bucket. Are you investing enough to retain customers and boost loyalty?
"Business has developed an insane imbalance between customer acquisition and customer retention. Many companies will invest millions in sales and marketing costs to bring customers in the door and then throw a few thousand dollars at trying to keep them."
- Jim Clemmer
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