The following blog item is an edited excerpt from my book, The Loyalty Leap.
It is a business practice so long-standing it is practically a cliché. Companies fall all over themselves to woo new customers, but once they get them, they have no idea how to make them profitable.
Sure, a customer can be acquired, but how do companies ensure that investment yields a return? All that work should guarantee some form of long-term dividends, and not only when there is a quarterly blowout sale....