It’s a well-known pillar of commerce – acquiring new customers costs around five times more than retaining existing ones.
In ages past, retention might have been something of a low-flame topic; a pan set to simmer at the back of the stove, and perhaps stir once or twice when some fledgling start-up pops up in proximity to your presence on the high street. However, the digital age has entirely rewritten the commerce code, and the staggering amount of competition now means that retention is a critical ingredient in the commercial plat du jour.
In ages past, retention might have been something of a low-flame topic; a pan set to simmer at the back of the stove, and perhaps stir once or twice when some fledgling start-up pops up in proximity to your presence on the high street. However, the digital age has entirely rewritten the commerce code, and the staggering amount of competition now means that retention is a critical ingredient in the commercial plat du jour.