Why Repeat Customers Are Cheaper to Acquire Than New Ones
As marketers, recognizing the role of customer experiences with your services and products is vital in the growth of your customer base, customer satisfaction, and sales growth.
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Engaging in a more personal level where there are a stress-free setting and customer-centric experience helps you collect customer loyalty. It is the value of loyalty from repeat customers that would make a company stand out from the market competition.
Benefits of customer retention:
1. Repeat Customers are less sensitive to price shifts
Price stops being a big issue once a customer had good experiences shopping products or availing services from you.
2. Repeat Customer Considerations
Loyal customers are 5 times as likely to forgive when there are errors in their purchase.
3. Brand Advocates through Customer Retention
Customer Retention is also a way of promoting your brand or company.
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Submitted on: 2021-05-10 06:07:29