Everyone knows that reducing churn, retaining customers, and increasing lifetime value are levers businesses have to pull if they’re going to grow. You can’t lose one customer for every one you gain and expect to do anything more than manage your brand’s decline.
But retaining customers can be labor intensive and expensive. Marketers are dealing with a paradox where views get cheaper but real attention gets more expensive. That’s especially true now that every customer carries a computer in her pocket that can access almost any product or service, along with infinite sources of information and entertainment.