๐๐๐ญ๐๐ง๐ญ๐ข๐จ๐ง ๐ข๐ฌ ๐ญ๐ก๐ ๐๐๐ฐ ๐๐๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง.
CEOs and CMOs have been focused primarily on customer acquisition for decades, but that focus is changing.
Weโve all heard the phrase โ๐ข๐ญ ๐๐จ๐ฌ๐ญ๐ฌ ๐๐ฑ ๐ฆ๐จ๐ซ๐ ๐ญ๐จ ๐๐๐ช๐ฎ๐ข๐ซ๐ ๐ ๐ง๐๐ฐ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐๐ซ ๐ญ๐ก๐๐ง ๐ข๐ญ ๐๐จ๐๐ฌ ๐ญ๐จ ๐ซ๐๐ญ๐๐ข๐ง ๐จ๐ง๐โ and in most cases, this is true.
Acquisition is still critical and best practices on how and where to acquire new customers are generally well known. But, customer acquisition cost (CAC) is getting higher and higher.
On the flip side, many companies donโt realize how or where to increase retention. As a result, they donโt realize how much money they are leaving on the table. While the outcome of retention efforts can be longer-term, retention improvement is easier to control and less costly. It also increases customer lifetime value (LTV), which leads to higher profits.
At CMO Syndicate, we find clients are amazed at the significant financial improvements they had right at their fingertips once they strategically adopt customer retention best practices.
๐๐ซ๐ ๐ฒ๐จ๐ฎ ๐๐จ๐๐ฎ๐ฌ๐ข๐ง๐ ๐ฆ๐จ๐ซ๐ ๐จ๐ง ๐๐๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐จr ๐ซ๐๐ญ๐๐ง๐ญ๐ข๐จ๐ง?
What is increasing...your LTV or your CAC?
About The CMO Syndicate
The CMO Syndicate is a diverse group of world-class Chief Marketing Officers who rapidly solve growth and profit problems for CEOs, VCs, CMOs, and PE firms. As global CMOs from the worldโs top companies, The CMO Syndicate is not a traditional marketing consulting agency, and we are not typical marketing or growth consultants. We are growth experts and operators who actually do the work on a part-time or project basis as outsourced fractional and interim CMOs.