How to hit the sweet spot of customer acquisition and retention

Think back to the time when the local grocery store took care of all your daily needs. The shop owner knew your entire family by name, he or she knew what brand of oil you liked best, was happy to extend you credit, and exchanged faulty products without conflict. In return, he or she had your unfailing loyalty and repeat patronage. Today, businesses may have grown, and the brick-and-mortar mom and pop shops now have to compete with online businesses. However, the principles of keeping customers happy and the underlying tenets of Customer Relationship Management (CRM) haven’t changed all that much. That’s because businesses will always need customers to survive.

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