Overview
Combat rising marketing and customer acquisition costs.
Challenges
Customer acquisition costs have risen 60 – 70% in the past six years.
- Brand trust is at an all-time low
- Most B2C companies lose 60% of their new customers annually
- Recommendations are the highest-ranked source for new purchases
Expected outcomes
Emotional loyalty is the key driver of word-of-mouth and referrals.
- 86% of loyal customers will recommend a brand
- Referrals have a 30% higher conversion rate, 37% higher retention rate and 16% higher lifetime value
- Recommendations are 50X more likely to trigger a purchase