Volume
1, Number 2
August 2007 Quick
links
Special
Promotional Offer 
Company
Mpell Solutions For Sales Support: For Marketing Support: For Redemption Support:
|  In
This Issue:
1. A Customer in Hand is Worth
Two in the Pipeline
Why
do most businesses spend more on customer acquisition than
retention? Given that existing customers have
almost zero marketing costs, buy one-third more than new
customers, and refer 10x as many new customers...the answer
can only be inertia. Marketing programs have been new
customer oriented since the dawn of time. Today, sophisticated
marketing organizations spend a significantly higher portion
of their budget on retention programs than they did historically.
Where should you invest in customer retention for
the greatest results? The easy answer
is anywhere, especially if it's currently nowhere. But
the two areas with the highest yield are low-usage customers
and resigning customers. Programs that attempt to
increase usage or decrease defections will deliver the
highest and fastest return on investment. What marketing programs are most effective in retaining
customers? Clearly, for customer retention,
email is the cheapest marketing channel available, followed
by mail, then telephone. The biggest issue with these
media is creating a compelling call to action so that your
customer acts on your message. Offering incentives
to customers to increase the recency, frequency, or monetary
value of their purchases are effective in building your
customer relationship For
our August special, we are now offering certificates for a FREE iPhone!
info@mpellsolutions.com
760-727-9600 x225 Here
are some examples of how promotions can help to retain your
best customers:
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