June 20, 2023
Customer Acquisition vs. Customer Retention: What is the Difference?
As entrepreneurs, marketers, or stakeholders, we may find ourselves asking: Should we direct our resources toward attracting new customers? Or should we focus more on retaining the ones we already have? The answers to these questions are crucial as they significantly impact a company's growth trajectory and bottom line. In this comprehensive blog post, we delve deep into the realms of customer acquisition and customer retention, dissecting each concept to understand their purposes, techniques, metrics, and impacts on profitability. By doing so, we aim to provide you with a clearer perspective and enable you to strike the right balance in your own business strategy. So whether you're a start-up in the throes of customer acquisition or an established business seeking to boost customer loyalty, this post promises to equip you with valuable insights.