Sometimes we need to be reminded that
the things WE ALREADY HAVE ARE
MORE VALUABLE than the things we want.
This is absolutely true when applied to customer retention
versus customer acquisition
in the digital marketing world. If you ask any marketer about their acquisition strategies, they will most likely be able to give you a fairly direct and detailed answer about Customer Acquisition Costs (CAC), plus a wide array of other acquisition strategies.
But ask about their customer retention strategies, and you are likely to get very little on planning and procedures to keep current customers.
What strategies are you integrating into your business to increase retention?
It costs an average of 15x more to acquire a new customer than it does to retain a current one. Yet an increase in customer retention by a mere 5% can improve profits by up to 95%.
Fulcrum is here to help. Our platform gives you a full set of capabilities to add meaningful revenue increases in your customer retention strategy.
Learn more about how Fulcrum can provide your business with solutions to increase customer retention and keep them happy.