Also labeled as retention marketing is one of the biggest leverages for your company.
Attracting new customers costs on average 5 x more than keeping an existing customer. (Bain & Company)
“If customers feel seen and understood, they’re likely to be loyal”, a recent article from Entrepreneur states. “Data powers the future of customer engagement”, reads another. Open any other random business news website and there’s a big chance you’ll come across another article stating the competitive power of data to boost retention amongst customers.
But even though this awareness is growing, the genuine belief in marketing remains: growth equals new customers.
And while this is true, new customers aren’t the only gateway to growth. Companies that want to be profitable in the long run, shouldn’t just focus on acquiring new customers, but also prioritize investment in existing customers and learn how to master the art of retention. You can read more about it here or fill in the form on this page to get in touch.
Increased customer acquisition costs, increased competition & decreased customer loyalty are just 3 of many reasons why your company should focus more on loyalty & retention marketing tactics.
Every organization that feels that they need to to rebalance their efforts between acquisition and loyalty / retention marketing in order to become a more profitable business.
Actionable insights on one of the biggest leverages you as a company have: the lifetime value of a customer. Are your actions helping improve CLV and thus the profitability of a customer, or not?
The proof of the pudding is in the eating. Don’t take our word for it, but have a taste of our work instead.
Not really what you were looking for? We impact your business on other fronts as well.