ENTREPRENEURSHIP

Detailed explanation-1: -Branding is important because not only is it what makes a memorable impression on consumers but it allows your customers and clients to know what to expect from your company. It is a way of distinguishing yourself from the competitors and clarifying what it is you offer that makes you the better choice.

Detailed explanation-2: -Retaining your current customers increases word-of-mouth recommendations and loyalty. Existing customers are more likely to spend 30% more on a new product than a first-time customer. A higher customer retention rate leads to greater profits and lifetime customer value (LCV).