Unless you know how much money your average customer will spend with you, this year, next year, and over her lifetime, how will you know what you can afford to acquire that customer?
Would you buy a dollar for 50 cents?
OK, that one was easy. If you could hand me 50 cents, and get a dollar back every time, you’d push as many fifty cent pieces in my direction as I’d be…
How many times have we read that it costs 5 to 7 times as much to acquire a customer as it does to retain one? And yet, knowing that existing relationships are more profitable, we spend the majority of our…