From a February 06 Customer Experience Management Study by Strativity Group:
(via Fast Company 9/06)
Do you know the average annual value of a customer to your business?
Know: 12.9%
Dont know: 87.1%
Do you know the cost of a customer complaint to your business?
Know: 9.7%
Dont know: 90.3%
Do you know the cost of acquiring a new customer?
Know: 8.6%
Dont know: 91.4%
People, people, people. While I dont think marketers need to become mathematicians to figure out the exact numbers per say, I do think it would be good to at least have a rough idea to the answers for the above questions ESPECIALLY that last one. If you have your finger on the pulse of how youre spending your marketing dollars and how those dollars are or are not working for you, then you have the knowledge you need to make your plan flexible. Add to it. Take away. Change this nuance. If youre not, then youre another exec blindly doing what your predecessor did.because thats the way weve always done it.
Source: http://brainsonfire.com/blog/marketing-numbers-that-are-good-to-know/
Filed under: Restaurant Marketing & Promotion, Top-of-House
