Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The Harvard Business Review found that a 5% increase in customer retention can increase profits by as much as 25% to 95%. The math is fairly straightforward: it costs less to maintain the loyalty of an existing customer than it does to acquire a new one, and a loyal customer is likely to make repeat purchases, making their lifetime value quite lucrative.

Dig Deeper


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.