Building Trust Through Loyalty: Lessons from Stephanie Joseph-Flatts
This week during my Strategic Relationship Marketing Seminar Series with Katidja Youssouf, we had the pleasure of hearing from Stephanie Joseph-Flatts. Stephanie is a George Brown College graduate from the class of 2009, while also holding a diploma in Business Administration Marketing. She has over 16 years of experience in the marketing field, and she focused on a crucial part of the industry today —loyalty marketing. Stephanie began by explaining to us the difference between acquisition and retention . She explained to us that while acquiring new customers is always important, keeping ones that you already have is actually more valuable in the long run. One fact that really stood out to me was that existing customers are 130% more valuable than new customers. This really made me think. A lot of companies focus so heavily on finding new people, but Stephanie made us realize that building strong relationships with current customers leads to loyalty and tru...