Analyzing large volumes of data, he was able to determine that 70-80% of new customers were generated not by formal acquisition and marketing initiatives, but by word of mouth from the 5% of existing customers who were most delighted with the product or service.
That’s a large percentage. If this generalizes it means the best thing you can possibly to grow your business is to take good care of your customers.
Isn’t it interesting how, in the age of the internet, the obvious basics of good old-fashioned good business and being a decent human being tend to win out?
Business isn’t really separate from life. Business is part of life. An important part of life. Not the most important. But still very important.
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