As the many big brand holiday advertisements trickle out online (like the highly controversial spot from Bloomingdales), the imminence of the lucrative holiday period has hit hard for many small business owners, sending strategizing into full swing.
Amid the intense focus on scoring sales in a sea of competition, it can be easy to forget what should be the priority — winning a client who sticks around long after the final slice of ham is eaten and the lights come down. If the value of loyalty escapes you, know this: according to Harvard Business Review, increasing customer retention rates by just 5% increases profits by 25% to 95%. Read more…
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