O'Reilly logo

How to Innovate in Marketing (Collection), 2/e by Tony Davila, Robert Shelton, Joan Kiddon, Larry Light, Michael Tasner, Monique Reece, Marc Epstein

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

15. Love Your Loyal Customers

Many companies are focused on finding and selling to new customers, but the smartest companies concentrate on keeping their existing customers and growing their relationships with them. Here’s why:

• It is five times more effective to sell to an existing customer than it is to find a new customer.

• Customer loyalty drives profitability. It is estimated that keeping a customer can increase profits between 25 and 80 percent.1

• Loyal customers make repeat purchases.

• Loyal customers tend to buy across your portfolio of products and services.

• Loyal customers give referrals.

• Loyal customers tell their friends and spread good will.

• Loyal customers are immune to the pull of competition.

• Loyal customers require ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required