Yesterday at lunch I finally got around to reading the September, 2006 issue of Fast Company magazine. There was sidebar on page 68 about executives being clueless on the financial implications of their customer strategies.
Over 87% did not know the average annual value of a customer.
It gets better, over 90% did not know the cost of a customer complaint.
And finally, again, over 90% did not know the cost of acquiring a customer.
You must be kidding. Most of this is pretty simple math, the kind you can do on the back of an envelope with data provided from the marketing folks.
No wonder some businesses continue to struggle.
Don't let this happen to you. You can complete this simple analysis in just a few minutes.
It will help you make more informed decision in the customer acquisition area.
Enjoy,
Reg Gupton
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment