Customer Acquisition Statistics And Trends

CUSTOMER ACQUISITION VS. RETENTION COSTS It costs five times as much to attract a new customer, than to keep an existing one 00000 44% of companies have a greater focus on customer acquisition vs. 18% that focus on retention +, 44% 18% Only 40% of companies and 30% of agencies have an equal focus on acquisition and retention. Company Agency +, 40% 30% CHANNELS THAT ARE USED THE MOST FOR CUSTOMER ACQUISITION Social media sites Website Email www 89% 81% 72% Direct mail SEO/PPC Web banners 66% 65% 60% Price Aggregator Websites comparasion websites Mobile devices 34% 32% 18% 89% of companies see customer experience as a key factor in driving customer loyalty and retention 89% 76% of companies see CLV as an important concept for their organization 76% Only 42% of companies are able to measure Customer Lifetime Value (CLV) accurately. %2$ 42% The probability of selling to an existing customer is 60-70%, while the probability of selling to a new prospect is 5-20%. 60-70% 5-20% Existing Customer New Customer Existing customers are 50% more likely to try new products and spend 31% more, when compared to new customers. NEW 50% 31% Try new products Spend more money HOW MARKETERS ARE USING ONLINE CHANNELS FOR RETENTION OR ACQUISITION Retention Acquisition Both Equally 86% 2% 13% Paid Search 85% 4% 11% Online display advertising 66% 6% 28% SEO (natural search) 61% 22% 18% Web retargeting www 52% 18% 30% Mobile Web 34% 39% 27% Mobile and web push notification 31% 28% 41% Social Media Marketing 30% 44% 26% Mobile apps www 29% 16% 55% Website 23% 58% 19% Mobile messaging 21% 52% 27% Email MOST EFFECTIVE DIGITAL MARKETING TACTICS FOR CUSTOMER RETENTION Email marketing Social Media Marketing Content marketing Referral marketing 56% 37% 32% 26% Search engine optimization advertising Display Mobile advertising Digital video advertising 13% 12% 8% 7% Affiliate marketing Paid search 6% 4% Increasing customer retention rates by 5% increases profits by 25% to 95% 5% 25-95% Customer retention Profit More than two-thirds (70%) of respondents agreed that it's cheaper to retain than acquire a customer 70% %3D Cheaper Expensive Compiled & designed by: O invesp more conversions Sources: https://econsultancy.com/blog/63321-companies-more-focused-on-acquisition-than-retention -statsti.pOss5718y3f10r http://www.smartinsights.com/digital-marketing-strategy/customer-acquisition-strategy/b2c-customer -acquisition-costs-2014/ https://econsultancy.com/blog/64724-15-ways-for-companies-to-increase-customer-lifetime-value/ https://econsultancy.com/blog/64659-just-42-of-companies-are-able-to-measure-customer-lifetime-value/ http://www.slideshare.net/actonsoftware/act-on-marketing-automation-beyond-customer-acquisition http://www.marketingcharts.com/online/acquisition-vs-retention-which-online-channels-are-best-for-each -44553/attachment/econsultancy-online-channels-acquisition-v-retention-aug2014/ http://www.marketingcharts.com/online/email-rated-most-effective-digital-marketing-tactic-44110 /attachment/gigaom-most-effective-digital-tactics-customer-retention-july2014/ http://hbswk.hbs.edu/archive/1590.html https://econsultancy.com/blog/63303-almost-a-quarter-of-businesses-don-t-carry-out-any-relationship -marketing-report#i. 3wpry21d93ejxz %24 %24