Its no secret that it costs 5 to 25x more to acquire a new customer than it does to keep a current one. It should also come as no surprise then that its much easier to sell to an existing customer than a new one. Marketing Metrics reports that businesses only have a 5-25% chance of selling to a new prospect, but they have a 60-70% chance of selling to a returning customer.
The inbound methodology is all about helping customers at every step of the buyers journey and beyond to turn happy customers into promoters. So, how do you know your customers are happy? And if theyre not, how are you handling their concerns? What else do they need that you could offer them?
Actively collecting and listening to customer feedback is a process called Voice of the Customer (VoC). VoC is about knowing how your customers perceive your company, how they feel about the products/services they've purchased, and what other needs they may have that you can address.
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