Is Customer Retention Really Better Than Acquisition for Small Businesses?
Lendio
SEPTEMBER 19, 2024
Generally, there are two main levers that your business can pull to affect growth metrics: 1) customer acquisition, meaning bringing new shoppers through the door, and 2) customer retention, meaning keeping your old shoppers from exiting that door. Each is a necessary component of business growth, but which is more cost-effective—and which should you prioritize for your small business?
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