It's easier to keep an old customer
than it is to find a new one . . .
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|The most profound
trait of the internet is how it empowers customers. Many ignore this phenomenon,
but rest assured it's not lost on consumers.
Consumers are well informed and prepared to jump ship at the first sign of a better deal. It's no secret that loyalty is eroding and becoming a thing of the past.
You can't blame consumers. It's easier every day to source information about all types of products and services.
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¤ Progressive companies are learning to adapt to this new buying pattern, but their options are limited. They can either figure out how to leverage the trend, or step aside and let competitors cherry pick their customers.
Adapting isn't as easy as it first appears because consumers often assume that the best price is the best deal. In most cases nothing could be further from the truth.
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