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Retention Is The Key To Growth For Services Businesses

The article from Forbes Technology Council, published on May 12, 2025, titled "Retention Is The New Revenue: The Key To Growth For Services Businesses," emphasizes the critical role of customer retention in driving growth for service-based companies. It argues that while acquiring new customers is important, retaining existing ones is more cost-effective and leads to higher long-term revenue. The piece highlights strategies such as personalized customer experiences, leveraging data analytics to understand customer needs, and implementing loyalty programs to enhance retention rates. It also discusses how satisfied customers are more likely to become repeat buyers and brand advocates, thereby indirectly contributing to new customer acquisition through word-of-mouth. The article concludes that businesses should focus on building strong, ongoing relationships with their customers to ensure sustainable growth.

Read the Full Forbes Article at:
[ https://www.forbes.com/councils/forbestechcouncil/2025/05/12/retention-is-the-new-revenue-the-key-to-growth-for-services-businesses/ ]