Why customer retention is the new acquisition It costs roughly five-to-ten times more to acquire a new customer than it does to retain an existing one, and yet companies continue to disproportionately spend their budgets into the "wrong" end of the funnel - the mass media or awareness side.[...]
Complete summary of Joseph Jaffe's book: "e;Flip the Funnel: How to Use Existing Customers to Gain New Ones"e;. This summary of the ideas from Joseph Jaffe's book "e;Flip the Funnel"e; shows that using the traditional sales funnel, businesses worldwide spend billions on acquiring new[...]