Brand loyalty: a crucial point for small business owners

small business owners

The customer acquisition journey is a long and winding road. It’s not only difficult but also costly. According to Huify, it costs 5X more to acquire a new customer than retain an existing one, and just by increasing your customer retention by 5%, you can increase profits up to 95%! While it’s vital to consistently market your brand to new customers, it doesn’t make sense to aggressively look for new buyers when existing ones. It’s zero-sum. That’s where the brand loyalty debate comes in. Of course, it takes money to…

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