Playing the loyalty card
13 September 2012
The process of building and maintaining your client base - customer relationship management - can be a huge benefit to companies, both financially and strategically. Jacqui Bishop explains why
It’s five times more expensive to attract new customers than to keep an existing customer loyal. Not only that, but the longer a customer is loyal, the less costly the relationship becomes. In other words, the longer a customer is loyal, the more money you can make out of them. Several research studies show that by increasing customer retention by 5 per cent, company...