The cost of acquiring a new customer is often estimated at five times the cost of retaining the customer you already have. And it isn’t just cost—customer loyalty has a big impact on a brand’s success. A study by Bain and Co. makes the claim that just a 5% increase in customer retention can increase a company’s profitability by 75%. The reason is simple: Due to the high cost of acquisition, a new customer is often unprofitable during the early years, and losing them....