Marketing Priorities: Acquisition or Retention?
Some industry reports say marketers are doubling down on growth. What do marketing leaders say?
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Some industry reports say marketers are doubling down on growth. What do marketing leaders say?
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PHOTO: Mennie | unsplash One of the biggest goals that I see companies set is reducing customer churn. Considering that itâs far cheaper to keep existing customers than to acquire new ones, the goal makes sense. Experience programs are powerful tools when it comes to reducing churn, but much like everything else having to do with experience improvement (XI), they require continuous effort and fine tuning if brands want to reduce churn. You May Be Hearing, But Are You Listening? Hearing your customers and listening to them are two different things. Itâs easy to set up a listening p...
PHOTO: Jonathan Hoxmark Companies across all industries are navigating fundamental changes to their business models. There is perhaps no better example of this than in the high-tech and software sector, which continues to transform from traditional on-premises product licenses to a cloud-based subscription service model. This shift is beneficial for both customers and vendors. For enterprise customers, a subscription model allows for faster response to changing conditions and needs, reduces internal support requirements and lowers up front capital investment. For high-tech and software compa...