Benefits of data-based communication with existing customers via customer analytics
Posted: Mon Dec 23, 2024 4:30 am
Customer analytics, on the other hand, is personal: all activities can be assigned to a particular person. It is only this personalised view that enables customer communications to be actually shaped to suit the individual and optimised over the long term (Pinuts, 2019).
ap-at-apteco-customer-analytics-en-insert-02.jpg
Many companies focus their cyprus mobile number marketing communications on acquiring new customers. According to Deutsche Post’s 2019 Dialogue Marketing Monitor, German companies tend to be reticent when it comes to communicating with existing customers. On average, only one in three companies deploys targeted communication with current customers. In the retail and services sector that figure is 40%, while in companies with annual revenues of over 25 million euros it jumps to 60%.
However focusing on existing customers can bring some vital benefits. Firstly, acquiring new customers is associated with far greater workloads and spending than supporting and nurturing loyalty in an existing customer. As a rule of thumb, you can assume this costs five times more (W&V, 2019). It has also been noted that existing customers add more value because they buy more frequently and opt for higher value products. They are also often more price-sensitive, so they improve planning reliability.
ap-at-apteco-customer-analytics-en-insert-02.jpg
Many companies focus their cyprus mobile number marketing communications on acquiring new customers. According to Deutsche Post’s 2019 Dialogue Marketing Monitor, German companies tend to be reticent when it comes to communicating with existing customers. On average, only one in three companies deploys targeted communication with current customers. In the retail and services sector that figure is 40%, while in companies with annual revenues of over 25 million euros it jumps to 60%.
However focusing on existing customers can bring some vital benefits. Firstly, acquiring new customers is associated with far greater workloads and spending than supporting and nurturing loyalty in an existing customer. As a rule of thumb, you can assume this costs five times more (W&V, 2019). It has also been noted that existing customers add more value because they buy more frequently and opt for higher value products. They are also often more price-sensitive, so they improve planning reliability.