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Ever thought…why is it still so hard to reach customers, and get them to pay? I’ve got tools and data like never before. But customer acquisition is still so difficult! Here’s why.
@jfdimark I wanted to stop by and express how much I agree with this post! Thanks for writing a long and educational piece of content! Really good stuff.
On that note, I want to express how much more important it is to to retain customers. Your returning customers account for a whopping 40% of your revenue, but only 8% of a brand’s total customer base. This article sums up why Retention > Acquisition. All the best!
Hi Jose - such a good point! Given how difficult (and often expensive) it is to acquire new customers, retaining them is majorly important. I like that post you've linked to as well...makes a good case for retention marketing.
Ok, so I've laid out the structural reasons why I think marketing is still so hard even with all the tools and data we have.
As a tl;dr for anyone who's not read the post, it's because of a) limited chances to grab attention, b) massive competition, c) timing & context for message delivery is still a crap shoot / misaligned with how most people use the channels we use to reach them with marketing, d) intent doesn't always = action, and finally e) attribution is still a mess.
But do you agree/disagree? Why do you think it's still so hard? Do you even agree with the premise, or do you think winning new customers is relatively easy? Would be great to hear your thoughts!
That sums it up perfectly!
Good comments as summarises some challenges - Direct Mail is the best way forwards....
Hey there - great article. It's definitely time for greater expansion in the Digital Marketing space, considering people are learning to block out advertisements the more they're bombarded with them. I totally believe in the power of content and providing useful, relevant, and beautifully engaging content, though this is often an awareness tactic. Even with these new channels, it's a continued cycle: new channel >> overuse of new channel >> people learn to block it out >> new channel.
It will be interesting!
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