Segmentation is based on a principle: everyone is different; and a hope: but in certain aspects they are not that different – people can be grouped together based on some similarities and grouped in large enough bundles to make marketing cost effective. “Segmentation is a compromise between the homogenous mass and the single individual”1 Segmentation […]
Category: profiling
Customer retention vs Customer acquisition
I had an interesting conversation over lunch yesterday. We were discussing why new customer initiatives seem to be much more attractive to marketeers than customer retention activities. Even though all our marketing eduction, and experience, tell us that it is much cheaper to sell to existing customers and patrons yet it seems that more effort […]
Selling to new customers is just so costly
We all know the old adadge that selling to new customers costs a lot more than selling to existing ones, so perhaps we should just stop chasing new ones – in these austere times that might make sense. However, as I’ve mentioned here before (Customer Acquisition vs Customer Retention), it does seem that going after […]
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