Retention marketing for customer retention or "an old friend is better than two new ones": a guest lecture for students from practitioners of the Promodo agency
There is a popular saying: "An old friend is better than two new ones." For a business to flourish, the number of customers must grow. However, attracting a new client is 5-6 times more expensive than keeping an existing one. According to a study by Marketing Metrics, companies have a 60 to 70% chance of selling to an existing customer, while the probability of selling to a new prospect is only 5%[...]