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Customer Retention

Customer Retention

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Customer Retention

The song "Make new friends but keep the old, one is silver and the other gold" should be the jingle for customer retention.  Customer acquisition is about attracting new customers.  Customer retention is about keeping customers and increasing profitability and lifetime value of each customer or account.   

The cycle is:  get customers -> keep customers -> get more business from existing customers -> create Brand Fans who generate referrals and positive word-of-mouth.

Tip

What's required to retain and develop customers?

 

Developing measurable marketing objectives, strategies and tactics for how to:

  1. Retain a customer (or an account if it's a B2B sale). 
  2. Inspire and convert...

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