Heard these before? We’re living in the age of the customer, and it goes well beyond buzzwords.
Most of us have been told that it’s cheaper to keep a current customer than to find a new one. But did you know that a 5 percent improvement in customer retention rates can result in a 25 to 95 percent increase in profits?
Customer retention can be a small change with major impact. And yet, many CMOs don’t champion retention as a top priority even though it plays a large part in their long term success.