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Episode 20 - What is the Lifeblood of the Business? Interview with Vic Ho (Co-founder and CEO of Fivestars)

Faith Driven Entrepreneur

CHAPTER

The Shift from Customer Acquisition to Customer Retention

This chapter discusses the importance of focusing on retaining existing customers rather than constantly acquiring new ones. It emphasizes the need to balance customer acquisition with customer retention and highlights the high cost of acquiring new customers compared to retaining existing ones. The chapter explores the mindset shift needed for businesses to understand the value of retaining customers and the role of rewards programs in driving success.

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