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Customer retention

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  • 1. Why is C.R important? 1. Customer acquisition cost & customer retention cost are to determine ROI 2. Widely accepted formula: C.A.C = 6 X C.R.C 3. C.R increase 5% = Profit increases 25% - 95% (cmo.com) 4. Converting existing customers = 60% - 70% vs. converting new customers = 3% - 20%
  • 2. Why is C.R important? 5. C.R impacts on C.A (WOM, referrals…) 6. Satisfied customers tell 9 other people about their positive experience vs. dissatisfied customers tell 22 “word of mouse spreads even faster than word of mouth” 7. Repeat customer spend 33% more than new customers 8. Every cent spent on improving customer experience = 34% - 400% ROI increase http://www.slideshare.net/custthermometer/22-customer-retention-stats http://www.customerforlife.com/blog/salesforce/2013/03/26/retention-vs-acquisition/ http://www.cmo.com/articles/2013/7/18/customer_retention.html

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