RECEIVE THE EARLIEST INDICATORS OF SHOPPING BEHAVIORS: CONNECT YOUR DATABASE WITH OUR NETWORK See which of your customers are shopping Target your messages Reach the right person at the right time Grow high customer lifetime value MAJOR-LIFE PURCHASE (MLP) A big-ticket item that entails a complex buying decision with a high degree of financial and emotional risk as well as significant consideration and research (e.g. a car, loan, insurance, degree, among others). The Power of Customer Retention Ways to keep your major-life purchase customers MAJOR-LIFE PURCHASES 5x It costs 5 TIMES as much to attract a new customer than to retain an existing one Selling to an EXISTING CUSTOMER can yield a 60%- 70% profit Selling to a NEW PROSPECT results in only a 5%-20% profit 60% -70% PROFIT Monitoring current portfolios is CRUCIAL Increasing CUSTOMER RETENTION rates by 5% can BUMP PROFITS by 25%-95% 25% 95% Sources: Bain & Company, Prescription for Cutting Cost, 2001. HBR, The Value of Keeping the Right Customers, 2014. Farris, Paul, Bendle, Neil, et. al. Marketing Metrics: The Definitive Guide to Measuring Marketing Performance, 2010. Jornaya. Customer Journeys in Major-Life Purchase Markets. 2019.
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RECEIVE THE EARLIEST INDICATORS OF SHOPPING BEHAVIORS: CONNECT YOUR DATABASE WITH OUR NETWORK
See which of your customers are shopping
Target your messages
Reach the right person at the right time
Grow high customer lifetime value
MAJOR-LIFE PURCHASE (MLP)A big-ticket item that entails a complex buying decision with a high degree of financial and emotional risk as well as significant consideration and research (e.g. a car, loan, insurance, degree, among others).
The Power of Customer RetentionWays to keep your major-life purchase customers
M A J O R - L I F E P U R C H A S E S
5xIt costs 5 TIMES
as much to attract
a new customer
than to retain an
existing one
Selling to an
EXISTING
CUSTOMER can
yield a 60%-
70% profit
Selling to a
NEW PROSPECT
results in only a
5%-20% profit
60% -70% PROFIT
Monitoring current
portfolios is
CRUCIAL
Increasing
CUSTOMER
RETENTION rates
by 5% can BUMP
PROFITS by 25%-95%
25%
95%
Sources:
Bain & Company, Prescription for Cutting Cost, 2001.
HBR, The Value of Keeping the Right Customers, 2014.
Farris, Paul, Bendle, Neil, et. al. Marketing Metrics: The Definitive Guide to Measuring Marketing Performance, 2010.
Jornaya. Customer Journeys in Major-Life Purchase Markets. 2019.
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