Now, we might all be doing our best in-store and online, and yet we’re still losing customers. Businesses who choose to partner with me and who are benefiting from partnering with me usually have 1 of 3 core reasons. One, they need more money. Two, they need more customers. Three, they need their customers to spend more money with them. Well, according to the Harvard Business Review, most businesses will lose 50% of their customers over a 5-year period, for all kinds of reasons. That’s right. I hate to be the bearer of bad news, but that’s true. Most businesses will lose 50% of their customers over a 5-year period. If you can slow that outflow by 5% … That’s what this study shows.
If you can slow that by 5%, you can yield an extra 85% in revenue because of the lifetime value of that customer and the compounding value of that customer.
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