
SWITCHING COSTS - INCREASING YOUR SHARE
We’ve all experienced the power of well-executed business models that capture our attention, win our business, and create intentional mechanisms to retain us. Studies have long purported that the cost of acquiring a new customer is 9X more than retaining a current customer. It’s also been shown that repeat customers spend 67% more! So why do most privately held firms evaluate growth by new client acquisition, often neglecting client retention and share of existing custome