As part of any good email strategy, customer acquisition, retention and reactivation are all components of a solid email plan.
Acquiring new customers will always be a goal but focusing on retention is key.
- 65% of a company’s business comes from existing customers.
- A 5% increase in customer retention can increase profits 25-95%.
- The cost associated with acquiring new customers can range from 4 -7 times more than the cost of retaining customers.
- The average business loses around 20% of its customers annually by failing to attend to customer relationships.