Want To Get Your Customer Retention Right? Get Your Foundation In Place First!
This webinar was originally published on WebEngage.
The potential of your business can clearly be mapped by your customers. And your customer base consists of your newly acquired ones and your existing customer base. As a matter of fact, it requires 6 times the marketing expenditure to acquire a new customer than to retain your already existing customer. A report by Bain suggests that a 5% increase in your customer retention leads to a 75% increase in the company’s profitability. And also, it is said that 80% of your future profits also come from 20% of your existing customers.
Topics covered in the webinar:
- Going multi-channel: Why is it imperative?
- The importance of different pieces of advertising space
- The organizational preparation — team setup, the data setup, the tools and vendor partnerships.
- How can it all come together?
- Test / Control as the only true measure of CRM impact