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FARVEL BIG TECH
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  3. Fun fact: good customer service makes customer lifetime value shoot through the roof.

Fun fact: good customer service makes customer lifetime value shoot through the roof.

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businesscaptialism
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  • jwcph@helvede.netJ This user is from outside of this forum
    jwcph@helvede.netJ This user is from outside of this forum
    jwcph@helvede.net
    wrote sidst redigeret af
    #1

    Fun fact: good customer service makes customer lifetime value shoot through the roof. It's 5-10 times cheaper to sell to a repeat customer than acquire a new one.

    - but acquisition is handled by marketing & they typically have 10-100x the budget of customer experience, if the latter even exists as a department at all.

    "Business is rational" my ass. Greed makes stupid & then hype wins.

    https://pluralistic.net/2025/11/11/sorry-to-bother-you/#we-dont-care-we-dont-have-to

    #business #captialism @pluralistic

    T 1 Reply Last reply
    0
    • jwcph@helvede.netJ jwcph@helvede.net

      Fun fact: good customer service makes customer lifetime value shoot through the roof. It's 5-10 times cheaper to sell to a repeat customer than acquire a new one.

      - but acquisition is handled by marketing & they typically have 10-100x the budget of customer experience, if the latter even exists as a department at all.

      "Business is rational" my ass. Greed makes stupid & then hype wins.

      https://pluralistic.net/2025/11/11/sorry-to-bother-you/#we-dont-care-we-dont-have-to

      #business #captialism @pluralistic

      T This user is from outside of this forum
      T This user is from outside of this forum
      tanavit@toot.aquilenet.fr
      wrote sidst redigeret af
      #2

      @jwcph

      Because new customers are a growth (if you hide lost customers).

      @pluralistic

      jwcph@helvede.netJ 1 Reply Last reply
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      • T tanavit@toot.aquilenet.fr

        @jwcph

        Because new customers are a growth (if you hide lost customers).

        @pluralistic

        jwcph@helvede.netJ This user is from outside of this forum
        jwcph@helvede.netJ This user is from outside of this forum
        jwcph@helvede.net
        wrote sidst redigeret af
        #3

        @tanavit @pluralistic Exactly - or rather, in practice it's "we hide lost costumers to make new ones look like growth"...

        People, especially execs, keep forgetting that marketing departments are really good at marketing & will use the same knack for making things look better than they are against the company as they use in service of it.

        Of course it doesn't help to set manager KPIs that pit internal departments against each other, which these companies also always do.

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