In so many ways, we're suffering from a hangover.
Back in late 2007, we retained maybe 40% of last year's buyers. And we did a reasonable job of acquiring new customers.
Then the economy collapsed. Some of us retained 37% of last year's buyers. Some of us retained 31% of last year's buyers. Almost all of us took a hatchet to customer acquisition activities.
Today, retention rates have largely recovered. In many cases, we're between 90% of where we were, to 5% or more above where we were in late 2007.
And, yet, sales are lagging in some cases.
In many ways, we're in the hangover stage, now. The customers we chose not to acquire in 2008, 2009, and 2010 are not available to pay the bills in 2011. Be honest, you've run your file forecasts, and you know this to be true.
The economy isn't going to change. We're stuck in whatever we're in. So it is time to protect our future.
Go out there today, and find yourself new customers! Our future depends on it.
Why do you care about reactivating lapsed buyers? Because they are worth more than new buyers. In this example the new buyer spends $111 in ...
It is time to find a few smart individuals in the world of e-mail analytics and data mining! And honestly, what follows is a dataset that y...
Here's a common dynamic in my projects ... see if this happens at your company. Your average price point is $40.00. Customer response...
I always face a challenge from marketers when I talk about implementing a Welcome Program. When I tell marketers that a Welcome Program gene...