How to Increase Profits by Focusing on Customer Retention Strategies

By Neil Patel

There’s a common misconception that businesses need to acquire new customers if they want to make more money.

Getting new customers is obviously beneficial and can help your business grow. But that’s not the only way to boost your profits.

Focusing on customer retention is a much more viable and cost-effective marketing strategy.

In fact, it will cost you six to seven times more money to acquire a new customer than it will to retain an existing one.

Not only is retention cheaper than acquisition, but it also has a very high ROI. Research shows that you can …read more