Every business will lose customers over time due to external factors such as financial circumstances or a change in location or requirements, but for those who simply forgot about you or had a negative experience, all is not lost.

Customer retention is the most important investment any business can make. That’s because the cost of acquiring new business is five times higher than that of maintaining an existing customer. Once you’ve gone to the trouble (and cost) of gaining a new customer, you’re going to want to hold onto them for dear life.