Everyone in Sales (and probably everyone in business) has heard the truism that customer acquisition is three times more expensive than customer retention. That is such a high-level statement, it is hard to say what it relates to and what to take out of it (by the way, if any of you readers knows the origin of this myth, please let us know and comment on this article). Costs for customer-related expenses in such a comparison can only be accounted in total, meaning for the entire customer lifecycle, or per customer transaction or purchase. 1. Total Customer Lifecycle Let’s first look at this from the high-tech sales perspective: Presales time in high-tech sales is usually … Read more
Feb 132011