Sentences with phrase «constantly acquiring new customers»

Customer retention is an essential part of a service business model because existing customers are easier to upsell and more profitable than constantly acquiring new customers while having a high turnover.

Not exact matches

The four critical factors are: (a) businesses with recurring revenue bases — like a renewable subscription — are far better than ones dependent on constantly securing new customers; renewals are much easier and less expensive to secure than new sales; (b) customer retention is absolutely critical — all customers are very costly to acquire and very easy to lose in a world of almost infinite choices; (c) businesses based on products that require constant replacement or renewal (the «razor blade» model) are much more attractive than durable goods businesses (like selling refrigerators) where the products have very long repurchase or replacement life cycles and where the market could even fairly quickly reach saturation points; and (d) businesses that offer products or services that had a predictably high rate of obsolescence were much more attractive than those where the products had long, useful lives.

The primary objective of the role will be to drive the brand strategy of the luxury brands globally, constantly elevating the desirability of the Ralph Lauren Luxury brands to acquire new customers, retain existing customers and drive sales in the luxury category.