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I was recently hired as a keynote speaker to talk to a group of financial advisors about client service. One of the topics of the meeting was a discussion about why a client would leave. The most obvious reason might be that the financial advisor gave bad advice, and the client lost money. But let’s assume the advisor is smart, the advice is sound, and the return on investment meets expectations.
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It’s well-known that keeping an existing customer is far more cost-effective than acquiring a new one. This understanding has pushed customer retention to the forefront in many businesses today. Yet, while companies have embraced new marketing strategies, retention strategies often lag, with many relying on outdated methods. For those organisations that are looking to carve out a competitive advantage in the publishing industry, developing new ways of building customer loyalty has never been mor
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