It’s time to beef up your customer retention efforts: how to make more money without more sales
Domo
JANUARY 7, 2015
Businesses know how to increase revenue through customer acquisition—and they are very good at it. But according to a recent Forbes article , there is far more profitability in retaining existing customers. Here are some stats I found compelling: Gartner reports that 80% of future revenue comes from 20% of current customers. Bain reports that a 5% increase in customer retention can increase business profitability up to 95%.
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