According to a new report, both companies and agency clients have a greater focus on customer acquisition than retention (44% vs. 16% for companies and 58% vs. 12% for agency clients).
Just 40% of companies and 30% of agencies have an equal focus on acquisition and retention.
The stats, from the Econsultancy/Responsys Cross-Channel Marketing Report 2013 show the difference between where respondents think the focus should be, and where they actually are.
If there’s one thing I’ve learnt over the years from working in digital marketing, it’s that first reactions to tech news stories are rarely accurate.
The time to form an opinion, in my experience, is when the stories ending in question marks die down.
When the Tumblr news broke (Yahoo’s planned acquisition @ $1.1bn) we were predictably flooded by instantaneous musings and misunderstandings around the network and its new owners.
Speculation then moved onto what Yahoo should do with its new toy, with a common concern muted as the nonsensical introduction of spammy ads.
P&G’s former CEO, A.G. Lafley, is credited with turning around the company under the mantra “the consumer is boss” – putting the customer at the centre of everything they do.
It sounds obvious, doesn’t it? Keep your customers happy, be in touch more often (not to sell, but just to show them some love), offer exceptional customer service and then just reap the benefits.
Or in other words, invest at least as much to retain your customers as you did to acquire them.
The 2013 Media Growth Report explores how media and related technology companies are responding to market changes, leveraging technology and developing new products.
Produced in partnership with JEGI, the report is built around a survey of over 225 senior executives (83% C-level) in addition to a number of interviews to provide context around the numbers.
eBay has acquired the team and technology behind recommendation engine Hunch for a rumoured $80million.
Hunch’s predictive technology makes customised recommendations to users based on their individual tastes using a “taste graph”.
Adobe announced this morning that it has acquired video advertising company Auditude.
Privately-owned Auditude operates a video advertising management and analytics platform aimed at publishers and media companies.
Yesterday, Netflix announced that its aggressive international expansion plans will bring its internet movie and television streaming service to the U.K. and Ireland in early 2012.
The announcement should have been a bright spot for a company which has been flying high for the past several years. But it was overshadowed by a bout of bad news: last quarter, Netflix lost 800,000 subscribers in the U.S.
Google wants to do business with local businesses. And for good reason: there are a lot of them out there for, and they present a largely untapped opportunity for the search giant.
Rumors are swirling that Google's push to win over local businesses will involve a multi-billion dollar acquisition of group buying leader Groupon. According to one report, Google has put a whopping $5.3bn on the table for Groupon to mull over. If such reports are accurate, it's hard to imagine that we won't soon
be hearing an official acquisition announcement in the very near future.
More online retailers than ever chose to entice customers with free delivery offers over Christmas. It's something that web shoppers have pointed to as a major factor in their purchase decisions.
Retailers who hadn't previously done so, started offering it, while others like Amazon dropped their threshold for free delivery. We have previously advocated this as a sales driver, as well as being useful bait for marketing campaigns, so did it work for etailers in Xmas 2008?
The on-and-off again rumors of a Microsoft-Yahoo deal are back in the news.
TechCrunch's Michael Arrington, citing unnamed sources, reported on
Wednesday that a group of "well known Silicon Valley executives and top
investment bankers" was working to arrange an acquisition of Yahoo that
would value the company at $20bn.