Question
How much cheaper is retention compared to acquisition?
Answer
Keeping a customer is dramatically cheaper than winning a new one. Retention vs. acquisition studies put the cost of acquiring a new customer at 5 to 25 times the cost of keeping an existing one.
- The gap: new-customer acquisition can cost 5x to 25x more than retention.
- High ROI: that spread makes retention one of the best returns available to any business.
- How to invest it: loyalty programs, direct mail, and a better customer experience all pay off.
- Physical reminders help: a thank-you postcard or reorder mailer keeps you top of mind between purchases.
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