Showing posts with label retention. Show all posts
Showing posts with label retention. Show all posts

Tuesday, October 19, 2010

The Value of an Existing Customer

In most cases, the value of an existing customer is much higher than the value of a newly-acquired customer, for a number of reasons.

(click on the image for a larger view, once to open, and then click on the image again and it gets large enough to read easily)

It is, for example. six to seven times more costly to gain one new customer than to retain one existing customer, Flowtown argues. Also, boosting customer retention rates by five percent can boost profits from five percent to 95 percent.

Generative AI Will NOT have the Impact Many Expect

Generative artificial intelligence, to say nothing of machine learning or neural networks (and eventually general AI), might collectively re...