While the holidays are great for winning over new customers, retaining them is challenging. In general, it costs much more to acquire a new customer than to keep an existing one, which is why retention practices are so crucial to long-term success.
Prioritizing customer retention can increase the profitability of each customer, and over time, your acquisition costs will decrease. The essential step is to shift your focus from customer acquisition to customer retention early in the new year.
That requires having a customer retention plan ready, usually consisting of various measures or tactics to keep the momentum alive and avoid the dreaded churn.
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