How much does What is more expensive: acquiring a new customer or retaining an existing one? This question often challenges business owners, who focus on acquiring new customers and end up forgetting about loyalty. However, data from the Harvard Business Review reveals that acquiring a new customer is 5 to 25 times more expensive than retaining an existing one.
In order for you to maximize your revenue, the key is to kraken database that your company can maximize the revenue opportunity with each customer – and that’s why keeping customers loyal to your business is so important.
And in a world as digital as the one we live in, there has never been so much talk about promoting user experience. Whether on your website, on chatgpt prompts for competitive analysis media or even in person, the experience offered will help to build customer loyalty. After all, a satisfied consumer will promote the brand and recommend it to their friends and family.
How to measure how much a customer costs?
Do you know how much your customer costs? Calculating this can help prevent waste in the process of acquiring a new customer. This calculation is called Customer Acquisition Cost – CAC, which adds up all marketing and sales expenses for a given period and divides it by the number of customers acquired in that same period.
By focusing solely on attraction strategies, the long-term tendency is for actions that previously worked and provided returns to no longer have atb directory same effect, requiring diversification and increased investment, often expanding the target audience and failing to achieve effectiveness. As a result, the CAC becomes increasing and without return.
Actions to build customer loyalty How much does
Relationship marketing is essential to build customer loyalty. Optimize your CRM tool for an up-to-date database to further personalize your service.
In the case of B2B services, having a customer success team is essential. This team is focused on helping the customer achieve the best results with the product. This way, it is possible to avoid problems, thus ensuring customer satisfaction.
It is also important to offer unique service – that is, the tone and cordiality must be the same, regardless of where the customer is (social media, email, telephone, etc.).
Another effective way to build customer loyalty is to have loyalty programs. There are several formats that can make sense for your brand, such as:
- Discount programs;
- Exchange points for prizes;
- Creation of a paid VIP program, in which the customer has access to exclusive benefits for a fee;
- Partnerships with other brands to offer relevant rewards to their customers;
The key is to focus on the experience How much does
When it comes to loyalty. In other words: the more you surprise your consumer in a positive way, the more passionate they will be about your brand.
Packaging that offers a sensory experience, with a personalized message and an unexpected gift also counts for a lot.
