It’s a lot less expensive to retain a current customer than to acquire a new one. That’s a timeless marketing adage for a reason: it’s true.
In fact, it may never be truer than in today’s economy. Customers have an unprecedented array of choices and easy access to global products and services. If you can’t keep them happy, they’ll find someone who can. That’s why businesses work hard to reduce churn, the attrition or turnover of customers.