Courting and Keeping Your Customers

New customer acquisition is usually the most expensive component of a business’s relationship with its clientele. Broadly, it includes everything from the salaries paid to marketers and salespeople to the advertising. Consequently, acquisition is far costlier than retention, as the Harvard Business Review reports: “Depending on which study you believe,…
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Employee Retention and Customer Loyalty

All businesses should yearn for high customer loyalty. Loyalty, after all, means repeat-business and word-of-mouth. The sales that come from returning customers and referrals don’t come with the typical cost of customer acquisition that eats into the bottom line. In a sense, customer loyalty is a lot like free advertising.…
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