Customer loyalty is considered the lifeline for any business, yet businesses often focus the spotlight on sales. They choose to run after acquiring customers rather than retaining the existing ones. However, it has been proved that it costs 5 times more to acquire a new customer than to retain an old one. Loyal customers will surely spread a good word about the brand and thereby provide a great boost to the revenues.
In a survey it has been found out that up to 15% of a business’s most loyal customers account for 55%-70% of the company’s total sale.
This infographic by will provide you the best understanding of why your business should focus more on customer loyalty and how you can improve it in the best manner.
