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September 2006    |    The Annual Planning Issue    |    Did You Remember Your Customers?

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Mapping Strategies For Improved Profitability
Mapping Strategies For Improved Profitability
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IT’S BEEN SAID THAT THOSE WHO FAIL TO PLAN, PLAN TO FAIL.
It might also be said that those who fail to plan for keeping their customers, might as well plan on losing them.
When you’re devising strategies and creating budgets for the coming year, don’t forget to plan and commit resources for retaining your existing customers. According to the Journal of Marketing Research (JMR), the average firm’s chances of making a sale to a prospect are between 5 and 20 percent, but your chances of making a repeat sale to an existing customer are 60 to 70 percent.
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Customer Lifecycle Results Measurement Marketing Technology Industry Insights
Customer Lifecycle
You wouldn’t expect to build a long-term romantic relationship with someone you never called after the first date. The same principle applies to your customer relationships.
 
Focus: Measurement
One of the best ways to produce measurable results is by putting more emphasis on retention marketing in your annual marketing plan. Unlike mass media advertising, retention strategie ...
 
Focus: Technology
In old science fiction movies, the “brave new world” was a cold, sterile place where computers were in control and people had numbers instead of names. Instead, computer ...
 
Industry Insights
Consumer-directed health plan (CDHP) enrollment is poised for a growth spurt, according to forecasts by Forrester Research. CDHP growth should exceed 6 percent of the commercially ...
 
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