Last time, I went through the importance of understanding the TRUE customer lifetime value of customers and clients to your business, and how to calculate it.

This time I want to look at WHY it’s important to use this information to focus on building customer loyalty, and retaining your clients for longer.

As I mentioned in the last article, it is between 5 and 8 times more expensive to attract a NEW customer to your business than it is to sell more of your products and services to an EXISTING customer.

But when you realise that the majority of the cost of servicing a customer is in attracting them in the first place, why then do the majority of business owners – and many of the “experts” advising them – STILL focus on lead generation?

Let me ask you…

Read More »