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Customer Retention

3 Ways to Successfully Establish and Execute a Customer Retention Strategy

Acquiring a new customer is five times as expensive as retaining an existing customer. Yet 44% of companies admit they, "have a greater focus" on acquisition, while 18% focus on retention (Invesp). While acquisition of new Email CRM customers is key to driving short-term revenue, establishing a CRM retention strategy is a necessity for ensuring a higher customer lifetime value. Most companies either overlook CRM retention strategies or they lack insight as to why customers lapse. Over time, a large percent of customer will become inactive, how do you overcome the leaky bucket of retention?

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