Why Customer Retention Is More Important Than Acquisition

“To be or not to be?” asks Shakespeare’s Hamlet.

For years digital marketers faced the same conundrum: “to buy or not to buy?” in reference to purchasing leads and prospects — also known as spamming (although hopefully you’re in the “not to buy” camp).

Knowing how to spend your marketing budget with confidence is always a challenge. Where do I allocate the money so it makes the most impact? How do I allocate the money in a way that I can show tangible results? These are the typical questions marketers ask themselves.

Of all the questions, the most critical to answer is: Do we invest good money in acquiring new customers, or do we focus on retaining the customers we have already acquired and personalize their experience? “To retain or acquire?” — this is the question. Read more…

More about Retention, Customers, Digital Marketing, Business, and Marketing
Source: Digital Marketing