“Keeping and even selling more to existing customers is far easier and cheaper than selling to new ones. Existing customers already know, like and trust your business, whereas creating new awareness and building liking and trust is difficult, because it takes time and effort. Many business owners focus more on attracting new customers at the expense of looking after existing ones, which can lead to existing customers going elsewhere because they feel unloved. “You must protect and nurture your existing customer relationships, which need not cost a lot of time or money. For example, just staying in touch by pinging them a nice message every now and again, checking to see if you can help them in any way, will make them feel like they’re important to you. The occasional customer survey can work well, because it makes people feel that you value them and their opinions. And happy customers are more likely to refer you to others. “Rather than focus solely on your competitors and just undercutting their prices, focus on your customers’ needs, wants and desires. Think relationships. First and foremost, ‘people buy people’, and when you establish an emotional connection, people are more likely to stay with you, even if your competitors are cheaper.