Why You Should Be Focusing on Customer Retention, Not Acquisition
Posted on September 18, 2017
The allure of the “new” is unmistakable. In fact, a study shows that it’s part of our psychological makeup to believe that new must always equal improved.
It is only natural to be continually on the lookout for ways to lure the next potential customer, but focusing too hard on acquisition may be to your detriment. As sales departments clamor for more resources to cultivate more outreach, the question should be: What about those customers we already have? Are they inferior to new customers, or are they perhaps significantly more valuable?
According to numbers procured by Invesp, 44 percent of companies admit they focus more on acquisition than retention, and only 18 percent claim to focus more on retention.
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