rD #tbt: Customer Retention Is As Important As Customer Acquisition

2016 marks the 10th year anniversary as a leader in loyalty and relationship marketing. Over the years, we’ve seen many significant changes, themes and beliefs in marketing, and as a good strategy group, we’ve had opinions about many of these themes.

To help mark the significance of our 10th year, we’re rolling back time to look at the changes in marketing and how we saw the world at that time. Over the next couple of months, we’ll be highlighting a key belief that the industry pursued and our take on it.

Enjoy the read and follow along using #rDialogueTBT.

Trend #1: Strategies of Customer Retention Are As Important As Customer Acquisition

Industry said it in – 2009

“Increase customer retention efforts, because market share often will be at the cost of other channels and/or competitors. Additionally, marketing to your existing customer base is cheaper and more effective because you know who they are and understand their behavior.” – Seven top online marketing trends for 2009

“Smart marketers will use cost-effective channels such as e-mail to extend the lifetime value of their existing customer bases through integrated retention, loyalty and cross-marketing programs.” – 6 online marketing trends to watch in 2009

rDialogue said it in – 2008

“Without growing existing customers, new customer acquisition is simply replacing lost revenue, rather than being true organic growth.  When existing customers are growing, acquisition drives even higher rates of growth” – Phil Rubin in The Emperor Now Has Clothes