Customer retention and loyalty are significant profit drivers for most organizations, as we demonstrated in our own customer retention infographic a few months ago. In most cases, retaining existing customers is more profitable than acquiring new ones.
Are you spending more on marketing than you are on maintaining your current customer base? Statistics on retention like the ones below show that you might want to evaluate that strategy in your own industry and organization.
The folks at Keepify sent us the below infographic: 14 Customer Experience Facts Marketers Can’t Ignore that contains a nice packaging of statistics on customer retention and loyalty.
Read through the infographic and let us know what you think…
Is customer retention the new marketing?