Retention is the New Acquisition
𝐑𝐞𝐭𝐞𝐧𝐭𝐢𝐨𝐧 𝐢𝐬 𝐭𝐡𝐞 𝐍𝐞𝐰 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧.
CEOs and CMOs have been focused primarily on customer acquisition for decades, but that focus is changing.
We’ve all heard the phrase “𝐢𝐭 𝐜𝐨𝐬𝐭𝐬 𝟓𝐱 𝐦𝐨𝐫𝐞 𝐭𝐨 𝐚𝐜𝐪𝐮𝐢𝐫𝐞 𝐚 𝐧𝐞𝐰 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐭𝐡𝐚𝐧 𝐢𝐭 𝐝𝐨𝐞𝐬 𝐭𝐨 𝐫𝐞𝐭𝐚𝐢𝐧 𝐨𝐧𝐞” and in most cases, this is true.
Acquisition is still critical and best practices on how and where to acquire new customers are generally well known. But, customer acquisition cost (CAC) is getting higher and higher.
On the flip side, many companies don’t realize how or where to increase retention. As a result, they don’t realize how much money they are leaving on the table. While the outcome of retention efforts can be longer-term, retention improvement is easier to control and less costly. It also increases customer lifetime value (LTV), which leads to higher profits.
At CMO Syndicate, we find clients are amazed at the significant financial improvements they had right at their fingertips once they strategically adopt customer retention best practices.
𝐀𝐫𝐞 𝐲𝐨𝐮 𝐟𝐨𝐜𝐮𝐬𝐢𝐧𝐠 𝐦𝐨𝐫𝐞 𝐨𝐧 𝐚𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧 𝐨r 𝐫𝐞𝐭𝐞𝐧𝐭𝐢𝐨𝐧?
What is increasing...your LTV or your CAC?
About The CMO Syndicate
The CMO Syndicate is a diverse group of world-class Chief Marketing Officers who rapidly solve growth and profit problems for CEOs, VCs, CMOs, and PE firms. As global CMOs from the world’s top companies, The CMO Syndicate is not a traditional marketing consulting agency, and we are not typical marketing or growth consultants. We are growth experts and operators who actually do the work on a part-time or project basis as outsourced fractional and interim CMOs.