Retentionomics: Why Lasting Relationships With Customers Make Sense [Forbes]Oct 17, 2016 - by Elizabeth Trombino
While it’s well-known and documented that investing in nurturing relationships with existing customers is more cost-effective than converting new ones, companies are still struggling to take advantage of the strategies that foster retention.
A recent Forbes Insights and Sailthru report, Retentionomics: The Path to Profitable Growth, reveals why some companies are significantly underutilizing retention and failing to connect it with their acquisition programs.
Though 79% of acquisition budgets increased over the last year – compared to just 42% of retention budgets – companies who remained focused on retention grew their market share by 14% over the last year. How are you investing for 2017?