Stop the debate. Look at the bigger picture.
If the economic downturn has taught us one thing, it’s this: the ongoing debate over cost of customer acquisition verses cost of customer retention has been forever set to rest. Although an understanding of those costs is important, the debate is not worth having.
The truly important consideration is sweepingly broad, touching nearly every department across an organization. It is a unified approach to decision-making that balances cost containment and customer centricity.
Recently I stumbled upon a short Accenture paper, authored by Woodruff “Woody” Driggs that talks directly to this issue. In it he suggests that, “...the ability to deliver a differentiated customer experience is a defining characteristic of high-performance businesses. Mastering this ability will serve businesses well in uncertain times."
And I agree. Do you?
Click here to read the full document.