Monday, August 17 | Submitted by Downtown Springfield Association | Downtown Central
“(Customer retention) is easier to keep a customer than to acquire a new one. Gartner, Inc. statistics show that 80% of a company’s future revenue will come from just 20% of its existing customers. Furthermore, according to Bain & Company (working with Earl Sasser of Harvard Business School), a 5% increase in customer retention can increase a company’s profitability by 75%,” according to Social Media Examiner.
Last month SME gave four examples of how top brands improve customer retention on Facebook, including how Walt Disney uses the platform to embrace its biggest brand advocates.