Marketing in 2021 was a rollercoaster ride. From the Mail Privacy Protection (MPP) brought forth by the Apple iOS 15 update to Google’s looming ban on third-party cookies, marketers have had to scramble to find new ways to gather data that helps them attract new customers.
But attracting new customers isn’t as fruitful as retaining existing ones. In fact, a 5% increase in customer retention correlates with at least a 25% increase in profit. And making sure your customers are happy is critical — customers who are “totally satisfied” with a brand deliver more than twice as much revenue than those who are “somewhat satisfied.”
Additionally, happy customers are 38% more likely to refer a business to their network, meaning a positive relationship with a customer also drives new business. The point? Nurturing existing customers is a wise choice for your organization.
With all the difficulty brought by MPP and Google’s ban on third-party cookies, it’s time
Article source: https://aithority.com/technology/martech/marketing-lessons-for-2022-never-stop-dating-your-spouse/
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