Our research shows that it costs five, and in some cases, seven times more to keep an existing customer than it does to acquire a new one. The price between acquisition and retention will change very little depending on the study you read. However, it is crucial that you accommodate your current customers with the best customer service experience, because 82% of U.S. consumers stop doing business due to poor customer service. A lot of people see social media as just a way to advertise their business and it often falls into the “marketing” bucket, but it is also an excellent way to provide customer service. For companies to avoid a situation where their customers walk away from them due to poor customer service, they must step up their online marketing strategy.
9 05, 2014