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Why future profits depend on current customers

A customer you have in the future cannot fund your growth and profits. You can gamble on the future by chasing prospective customers, and you may win big. But you acquire new customers by spending the money made on the old ones. If you reinvest profits into helping your current customers, you will be learning more and gambling less. Tq130911pd

Apparently, gambling is more exciting than learning.

Econsultancy: Companies more focused on acquisition than retention stats, 2013-Aug-30 by Graham Charlton

According to a new report, both companies and agency clients have a greater focus on customer acquisition than retention (44% vs. 16% for companies and 58% vs. 12% for agency clients).

Just 40% of companies and 30% of agencies have an equal focus on acquisition and retention.

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