Acquiring new customers is expensive and challenging. Studies show that it can cost 5 to 25 times more than retaining an existing customer and losing a customer can lead to more than just revenue loss from that customer. It can also affect potential revenue from future purchases and referrals.
Data analytics, including solutions like HappyOrNot, can help businesses gain insights into customer behavior, preferences, and needs to proactively address pain points in the customer journey. This personalized approach can drive loyalty and revenue, improving the customer experience and reputation of the business.
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