Dan and Nick explore the tremendous opportunities to drive incremental revenue through customer retention and expansion. So much of marketing's focus is on top of funnel/acquisition, but the reality is that organizations have a much greater chance of completing a successful sale with a current customer(60-70%) than with a new prospect(5-20%) according to Gleanster. And the impact of of customer retention is powerful. Gartner says that a 5% increase in customer retention can increase the bottom line anywhere between 25%-125%. Yet, according to the Gleanster report, 90% of marketers are NOT properly managing the end to end customer experience.
May 10, 2015