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Loyal customers are your company's most valuable asset. While many organizations have struggled in these challenging economic times, companies that have tapped into the long-term loyalty of their customers have thrived. Logically, this makes sense. Not only is it less expensive to retain a customer than to acquire a new one, loyal customers spend more, try other brand offerings, purchase more profitable products and services, and are more likely to refer customers to your business. The longer a customer is loyal, the more profit the company gains. Read this brief to learn four steps to help guide your customer loyalty strategy.
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