Firstly, its far
more expensive to obtain a new customer - than to keep an existing one.
Thats because wooing new customers often entails a higher level of costly
marketing and advertising efforts and sales promotions to create awareness of,
and desire for, a product or service.
customers who are satisfied with a company's product or service are likely to
become repeat customers, and are apt to recommend the business to friends and
colleagues. In our global, extremely competitive business environment, holding
onto customers has never been more critical.
Unfortunately, not all
businesses see things this way. Some see sales targets and quick profits more
important than providing an honest service, and will use tactics that are close
to being a illegal, whilst others do things that are clearly dishonest.