Customer loyalty value

Estimates are that it costs 6-30 times more to get new customers than it does to maintain the ones you have. With capital so precious to small businesses, loyal customers are critical to profitability and ultimate survival.

With high customer attrition, you will be forced to spend too much on marketing and longer selling cycles than is necessary, instead of on increasing your value to customers through new offerings, employee training, technology and service innovations.

Plus, loyal customers give you referrals to new prospects and singing your praises in your advertising testimonials. Referral business is like "free" new customers.