What is a potential downside of prioritizing prospect preference over existing customers?

Focusing on prospect preference over existing customers can lead to lower customer loyalty. Existing customers have already invested their time and resources into your product or service, and prioritizing new prospects can signal to them that their needs and feedback are not valued. This shift in attention may cause existing customers to feel neglected, which can diminish their trust in the company and its offerings. As loyalty declines, customers may consider switching to competitors who prioritize customer relationships and engage them on a more meaningful level.

Higher customer loyalty is crucial for long-term business success, as loyal customers not only return for repeat business but are also more likely to advocate for the brand and contribute positive word-of-mouth. Conversely, neglecting existing customers in favor of attracting new ones can create a churn effect that ultimately harms the business.