Customer Loyalty

• A study by Frederick Reichheld of Bain & Company found that increasing customer retention rates by just 5% can increase profits by 25% to 95%.
• According to a report by LoyaltyOne, it costs 5-25 times more to acquire a new customer than to retain an existing one.
• A study by New Voice Media found that businesses have a 60-70% chance of selling to an existing customer, compared to just 5-20% for a new customer