Hey Retention Newbies, This Actually Isn’t That Tough
2008 has been a brutal year for most businesses. Interestingly, there’s a sudden upswing in interest in customer retention. I guess even the solid, predictable customers aren’t spending as much as they were.
A good first lesson in retention ROI is to understand that the first chunk of investment will have a high ROI, pretty much no matter what you do. After that, channeling investment into the right interactions with the right customers is the key. And unlike most marketing expense, you can figure out the right way to manage this second chunk of investment pretty quickly.
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