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“It costs six to thirty times more to get a new customer than it does to service and maintain the satisfaction and loyalty of an existing customer. Companies struggle to cut costs without realizing that customer attrition might be the single largest cost they have. Keeping customers happy has the same bottom line effect as cutting costs. Increase your customer retention by 5%, and you could increase your profits 25% to 100%.”

Source: JoAnna Brandi

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