We all know the business landscape has changed thanks to constantly-evolving technology and customer expectations. Simply put, you need to market to your existing customers so they do business with you again. And again. Full stop.
Don't deny that your competitors are actively marketing to your customers.
Consumer choice has reached an all-time high while attention spans have dipped to an all-time low. This means you need to take a more customer-centric approach to keep them interested in your brand.
Don't take your biggest asset for granted:
“Increasing customer retention rates by 5% increases profits by up to 95%.”
This groundbreaking finding by Bain & Co. came from analyzing the costs and revenues derived from serving customers over their entire purchasing lifecycle. It pays off to keep