Impeccable Customer Service Tip #478
Only 12% of current marketing spend goes to customer retention. 33% goes to brand awareness and 55% goes to new customer acquisition. (Source: McKinsey) Imagine what might be possible if these companies flipped their priorities.
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I agree with this tip. In our Client Appreciation workshops we train on this very subject. It takes 5 X more in terms of money, time and effort to obtain a new client than it does to nurture, appreciate and show your gratitude to a current client. Marketing plans often miss this point. They don’t address Client Appreciation and they under budget for this.
Not a smart move…