Marketers Are Obsessed With Acquisition. But What About Retention?

It's time to stop taking your existing customers for granted

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Marketers are obsessed with acquisition. So much so that they synonymously refer to it as performance, indicating that to add more is to perform better.

We know acquisition is an expensive business, with a cost that’s multiple times higher than retaining existing customers. So if acquisition is more costly than retention, why do we glorify acquisition as performance?

Because we treat new as better. We see new as growth. Channels are flooded with ads featuring splashy incentives wooing prospective customers to try a product or service with an offer that makes it nearly too good to turn down.

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This story first appeared in the Oct. 24, 2022, issue of Adweek magazine. Click here to subscribe.