A five percent increase in customer retention can increase business profits by 25 to 125 percent.

It costs seven to nine times more to acquire a new customer than it does to keep a current one.

The statistics may vary depending on the source, but whatever the numbers, if you want to succeed in business, you must keep your customers.

Here are some proven strategies to help you build lifelong relationships with your customers:

1.              The first step is to deliver what you promise. If your service or product falls short of your claims, you're not likely to have return business. And dissatisfied customers may give negative feedback to other potential customers.

2.              Be respectful of your customers; see their needs, not dollar signs. Of course profits are important, but don't ignore customers' needs in favor of your bottom line. Listen to customer feedback and treat every customer as though they will be with you for the long haul. Remember, loyalty is a two-way street.

3.              Beware of employee turnover. It's hard to build a long-term relationship if your customer is met with a disgruntled employee or someone who is new to the job. Treat your employees with the same respect you show to customers and you will be fostering a responsive environment that is beneficial to all.

4.              Go beyond the expected. Once you have established a history of a reliable product and wonderful customer service, offer extras to repeat customers. Give them a discount or early access to a sale and let them know it is because you appreciate their business.

5.              Know when to say when. Realize that even if you do everything right, you may not always get the results you want. If a customer becomes too demanding or costly, it may be time to put your effort to better use.