If you currently have customers then keeping them should be your #1 prerogative. Research has shown that attracting new customers is 6-7 more times expensive than selling to the ones you currently have (ThinkJar, 2018). Additional research shows that a 5% increase in customer retention can increase a company’s profitability by 75% (Bain and Company, 2019). Then there is the concept of lifetime value of a customer. Multiple transactions over a lifetime of a loyal customer is much more valuable, measured in revenue and profit, than a single transaction.