Too Long; Didn't Read
In almost every business, repeat customers are the lifeblood of growth. In fact, <a href="https://hbr.org/2014/10/the-value-of-keeping-the-right-customers" target="_blank">studies</a> have shown that it costs a business about 5 to 25 times more to acquire a new customer than it does to sell to an existing one. Existing customers also tend to spend 67% more than new customers. It, therefore, goes without saying that businesses must strive towards customer retention if they are to remain competitive and maintain stable growth.