It can be tempting to put the bulk of your company’s resources and effort into courting new customers, but some of your most valuable relationships are with the customers you have already. Your company is 14 times more likely to sell to an existing customer than it is to sell to someone new; additionally, it costs between 5 and 25 times more for a company to lock in a new customer than it does to retain a current one. Satisfied, happy customers also have stronger brand loyalty, spend more money, and are much more likely to spread the word about your business.
When yet another complaint surfaces about the sexual harassment of students and faculty, we can be thankful for the attention and seriousness that Title IX efforts bring to this ongoing problem. This feels especially true during our current “Weinsteinian” climate.