Should a business allocate more of its marketing budget to acquiring new customers or retaining old ones? During the recent recession, many enterprises reduced ad spending and focused heavily on retaining their current customers, believing the expense incurred in finding new customers far outweighed the incoming revenue. With the economy expanding, marketers are once again casting a wider net to find new customers.
Tag: new customers
Marketers may finally believe that the economy is on the road to recovery. Industry analysts say that for the first time in several years marketers have shifted their top strategy. Instead of trying to maintain existing customers, a hallmark of the recession, marketers are now trying to win new customers.