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The key to a successful business is a steady customer base. Successful businesses generate 80 percent of their income from 20 percent of their customers. A large number of businesses neglect this loyal customer base in pursuit of new customers. On the contrary, the cost to attract new customers is significantly higher than to maintain your relationship with existing ones. Any effort put into building customer loyalty will certainly payoff.
Source: allbusiness.com
Last revision on December 02, 2008
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