82% view retention as cheaper than acquisition As the doors reopen after the COVID19 shutdown, the highest possible priority should be placed on past customers and attracting them back to the business. On average a repeat customer spends 67% more in months 31 – 36 than in months 0 – 6 of a business relationship. […]

82% view retention as cheaper than acquisition As the doors reopen after the COVID19 shutdown, the highest possible priority should be placed on past customers and attracting them back to the business. On average a repeat customer spends 67% more in months 31 – 36 than in months 0 – 6 of a business relationship. In addition – 82% of marketers view retaining existing customers is cheaper than attracting new ones. So, before you start spending a bomb on advertising to attract new customers, look long and hard at the opportunities for encouraging past customers to come back.For businesses needing to kickstart revenue, there is possibly no better way than to target past customers. The science suggests that there might also be no cheaper way of boosting revenue. The stages for doing this might be as follows: Precisely identify the market to be targeted Precisely identify the primary reason for…