Published by:
Harvard Business Publishing
Length: 9 pages
Topics:
Customer relations; Marketing management
Share a link:
https://casecent.re/p/44888
Write a review
|
No reviews for this item
This product has not been used yet
Abstract
Managers have recently begun to think of good marketing as good conversation, as a process of drawing customers into progressively more satisfying relationships with a company. And just as the art of conversation follows two steps--first striking up a conversation with a likely partner and then maintaining the flow--so the new marketing naturally divides itself into the work of customer acquisition and the work of customer retention. But how can managers determine the optimal balance between spending on acquisition and spending on retention? The authors use decision calculus to approach the large, complex problem through several smaller, more manageable questions on the same topic.
About
Abstract
Managers have recently begun to think of good marketing as good conversation, as a process of drawing customers into progressively more satisfying relationships with a company. And just as the art of conversation follows two steps--first striking up a conversation with a likely partner and then maintaining the flow--so the new marketing naturally divides itself into the work of customer acquisition and the work of customer retention. But how can managers determine the optimal balance between spending on acquisition and spending on retention? The authors use decision calculus to approach the large, complex problem through several smaller, more manageable questions on the same topic.