Post 346 - The average company in America today loses between 10 and 30% of its customers annually. Research by Bain & Company shows that a 5% improvement in the rate of retention can increase profits anywhere from 25 to 100%. Service firms rely on existing customers for 85 - 95% of their revenue. The AICPA reports that it costs eleven times as much to bring in a new customer as it does to keep an old one. Imagine being able to increase your marketing and advertising effectiveness by a factor of eleven! With all of this empirical evidence, why do so many businesses still focus on customer acquisition rather than on customer loyalty and retention?