Friday Research: Months to Find New Customer, Seconds to Lose Existing One

When Will You Use This?  

Planning and developing acquisition campaigns.

What’s The Red-Letter Bite Today? 

Customer acquisition marketing campaigns can be your landslide victory if executed well.

Current research* examines the effect of attractively priced acquisition campaigns on existing customers' retention intention, retention and customer lifetime value (CLV).

The study reveals that customers who are aware of the acquisition campaigns (they know about the process of bringing new customers to the brand that they use) both have a significantly higher intention to stay and do actually stay longer with the brand than do customers who are unaware of these campaigns.

Moreover, there is a positive effect of campaign attractiveness on retention intention, which means that if the customer thinks the acquisition campaign is pleasing, appeals to the senses, has qualities which arouse interest, the retention intention will be higher.

What Are The Ways of Gaining New Customers Without Losing Existing Ones? There Are Many Answers..

  

*Lhoest-Snoeck, S., van Nierop, E., Verhoef, P.C., ‘For New Customers Only: A Study on the Effect of Acquisition Campaigns on a Service Company's Existing Customers' CLV' Journal of Interactive Marketing, Vol 28 (08/2014) {Thanks for the material}

P.S. When you’re done reading, I’d love for you to share your experience with customer acquisition campaigns? Leave a comment or Tweet me, let's chat!

P.P.S. Need some help on crafting your marketing message? Let's do this together.