Like many, I'm a big believer in attracting new customers that are the right profile for the brand. However, I have never believed that you invest the majority of your resources into attracting new customers. It's important to always have a two prong approach where you invest in not only maintaining but also, delighting your existing customers. In many ways, it's much easier and affordable to work hard to keep an existing customer.
Did you know that it cost 5 times more to attract a new customer than to retain an existing customer? That is a good reason to invest marketing dollars and focus on growing a relationship with existing customers. It even costs less! Even though they are cheaper to maintain, loyal customers are priceless!
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