Question

identify and explain two reasons why maintaining customer loyalty is important

Answer 1

Answer:

The importance of customer loyalty impacts almost every metric important to running a business. Without happy customers that continue to buy from you, the business won’t survive. New customers (as we’ll talk about below) tend to cost more to acquire, and don’t spend as much money as loyal, repeat customers. Keeping customers coming back for more is critical to business success. And it’s why short term profit grabs don’t work. Loyal customers are just better for business: they help you grow and they keep profits high.