It is no secret that repeat customers spend more money and cost five to 25 times less to retain than it does to obtain new customers. Repeat customers also spend 300 percent more than new customers, are easier to sell to and refer, on average, 50 percent more people than first-time buyers. Read More
Most business owners know it’s more expensive to find new customers than to retain an existing one. Depending on the industry, acquiring a new customer is anywhere from five to 25 times more expensive than a current customer. So, how do you keep new customers coming back? Read More
Loyalty, like trust, is earned.
And, like trust, it’s an essential part of the success of your business. Studies show that loyal customers spend 67% more than new ones. So how do you grow that trust? How do you earn their loyalty? Read More
Business Tips, Company Motivation, Customer Loyalty, Employee Appreciation, Employee Recognition, Incentive Rewards, Player Loyalty
In today’s current economy, employees and most importantly supervisors and executives need to prepare themselves to adapt successfully to a rapidly changing business environment. Globalism, technology, sociopolitical and demographic changes are influencing the way businesses operate in the future. Companies who still follow antiquated and outdated business models without looking at the bigger picture of the ever-growing market or younger generation are bound to fail. Read More