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How to Calculate the Cost of Customer Retention Versus Customer Acquisition

Totango

Comparing the cost of customer retention versus customer acquisition underscores why retaining clients is so important. Here’s how to calculate both kinds of costs and why retention should form part of a profitable business strategy. Calculating the Cost of Customer Acquisition. Email marketing.

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The appliance of science: Mark Roberge’s formula for scaling

Intercom, Inc.

As an engineer by training, in pressure situations he tends to “lean to the quant.” According to Mark, customer retention is a far better indicator of success: . How to spot the leading indicators for customer renewal. It’s the classic conflict: left brain versus right brain; art versus science.

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Brand Integrity and Your Ideal Customer

ClearAction

The gap between what’s promised and what’s received, as seen by customers, is your brand integrity gap. CMOs set expectations for customer acquisition and CCOs assure expectations are delivered for customer retention. Minding the gap is the ultimate purpose of a CCO.

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15 Customer Retention Strategies for Long-Term Customer Loyalty

Comm100

Your customer retention is super important to your bottom line—after all, customer loyalty is well-known for being more valuable than customer acquisition. With stakes this high, it’s essential that you build a solid customer retention plan that can lead to long-term customer loyalty.

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Subscribing to the future with Zuora’s Carl Gold

Intercom, Inc.

Customer acquisition costs are rising , churn is every company’s poison pill, and the competition is relentless. Take Caterpillar , the world’s largest construction equipment manufacturer, that has been selling tractors, engines, and other machinery for nearly 100 years. In other words, decidedly not Netflix.

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Customer Satisfaction is at 17 year low. These stats tell you why…

Beyond Philosophy

However, here are some of the stats that stood out to me most: 73% of business leaders reported a direct link between customer service and business performance. 64% of business leaders say that customer service has a positive impact on the company’s growth . 60% say customer service improves customer retention .

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Improve CX and Employee Experience with Human Empathy

SugarCRM

As we’ve digitized more interactions, companies have been on a quest to understand their customers better to develop better experiences to increase customer retention through better service and encourage increased sales. This article was initially published in CX Focus Magazine.

CX 52