Executive Touch Host Debate to Discuss Customer Retention vs New Customer Acquisition
With marketing budgets being constantly tightened, Executive Touch is set to host a debate at their Leeds offices to find out whether customer retention or acquisition is more important.
It’s no secret that marketing budgets are getting tighter, businesses are finding it increasingly difficult to assess where the money would be best spent. Looking to make the biggest impact at the lowest cost many businesses are struggling to decide whether they should be focusing on customer acquisition or retention. Direct sales and marketing firm Executive Touch are set to address this issue in an upcoming debate held at their Leeds office. The firm have invited around 30 local entrepreneurs to attend the event and hope their views will provide some interesting data on the subject.
The acquisition vs retention debate has been a weight on marketers’ minds for some time, both have obvious benefits yet many businesses have a far stronger focus on acquisition believing it to be directly linked to their growth. In a survey conducted by Econsultancy 34% of businesses asked claimed their main focus was customer acquisition, whilst only 18% reported that customer retention was their main priority. Customer acquisition is an important first step from businesses in establishing their brand visibility and spreading a positive reputation, however retaining customers and maintaining strong customer relationships long after the initial purchase is an important aspect of building a successful business.
Executive Touch offer their clients both acquisition and retention services, however the firm believe that a greater number of businesses should increase their focus on customer retention. By ensuring customers remain happy after their purchase means that businesses are far more likely to see those customers remain loyal to their brand. Loyal customers are without a doubt a business’s’ greatest asset, word of mouth marketing from happy customers is one of the most honest and successful forms of marketing that can drastically improve a business’s reputation. Loyal customers are also far more likely to purchase higher cost products or service compared to new customers. It’s been proven that customer enjoy familiarity, once a customer has experienced great customer service chances are they will stay loyal to that business.
Executive Touch is hosting the upcoming debate to see whether local businesses are focusing their efforts on encouraging their existing customers to return over acquiring new ones. The firm are interested to find out whether businesses have the strategies in place for customer retention ad whether these strategies are actually effective.
Executive Touch are a Leeds based sales and marketing firm who increase their clients acquisition and retention rates through face to face direct marketing. The firm hope that more businesses will soon recognise the importance of customer retention, and that looking after existing customers can be for many, a cheaper and faster route to overall business growth.
If you would like enquire about outsourcing your acquisition or retention strategy, contact Executive Touch on firstname.lastname@example.org.