Information and resources related to renewing existing customers. See Related Topics: Marketing, Customer Acquisition for additional information and resources.
Direct Response Marketing has evolved into Relationship Marketing - where companies strive to provide long term value to customers and rely on relationships built over time to trigger incremental sales and renewals. For Relationship Marketing to work best, it should be a key strategy consciously adopted by a company and involve a coordinated effort involving virtually all functions. Relationship marketing has given rise to a new generation of software - see Retention - CRM Page. The highest and most effective form of Relationship Marketing is One On One Marketing - where each customer receives customized treatment tailored to the customer.
Many studies have shown that the cost of retaining a customer is about 10% of the cost of retaining a new customer, and that companies generally focus on acquisition programs to the unproductive detriment of retention programs.
Additional Resources
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Marketing - Customer Retention:
Marketing - Retention - Articles Page. List of Articles related to customer retention.
Marketing - Retention - Books Page. List of books related to customer retention.
Marketing - Retention - CRM Page. Information and Resources.
Marketing - Retention - Possible Programs Page. List of possible customer retention and renewal programs.
Marketing - Retention - service Providers Page. Companies that provide products and services related to customer retention.
Marketing - Retention - Website Usage Page. For businesses that deliver value via websites, customers that use the website more are more likely to renew a subscription.
Wikipedia Articles - Relationship Marketing, Services Marketing, Customer Attrition,
Additional Resources
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Copyright 2008, All Rights Reserved Paul J Feldman.