How will the improvement of customer satisfaction affect my bottom line?

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How will the improvement of customer satisfaction affect my bottom line?

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Studies have shown that by improving your customer retention by only 5 percent annually, you can increase your profits by 25 to 95 percent, depending upon your industry! In addition, it is less costly to retain customers than it is to get customers initially, so a business can actually be more profitable by satisfying current customers than by obtaining new customers. However, new customers are needed as well, and growing highly loyal customers will help you obtain new customers too!

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