Date: September 10, 2024
Many companies focus on attracting new customers, but it is worth remembering that working with the current customer base can be no less important, and sometimes even more profitable. In this article, we will tell you how, with the right approach to current customers, you can increase sales and reduce churn.
A customer database is an organized system of data with contact information.
Full description
Benefits of Actively Working with Current Clients
Working with existing clients has several advantages over attracting new ones:
Lower costs.Attracting a new client costs5-7 times more expensivethan bank data retaining an existing one. Current customers are already familiar with your product and don't require as much effort to build brand trust.
To minimize recruitment costs, we use end-to-end analytics on projects.
First of all, we evaluate the effectiveness of channels. The main interest is in those from which target leads come. We focus on these channels and develop them.
To retain customers, we personalize offers and implement loyalty programs.
Valery Kurakin
Head of Analytics Department
Increasing customer life cycle.The longer a customer stays with a brand, the more repeat purchases they make, which increases revenue and average bill.
Reduced churn.Loyal customers are less likely to switch to competitors, which stabilizes the company's income.