The Psychology Behind Customer Retention And Loyalty

Customer acquisition costs are soaring, and businesses are increasingly turning their focus towards retaining existing customers. Studies reveal that acquiring a new customer can be anywhere from five to 25 times more expensive than retaining an existing one. Moreover, existing customers tend to spend up to 67% more than new ones. These figures underscore the critical importance of customer retention and loyalty in sustaining business growth and profitability. Let's explore....

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