SMBs Devoting More Marketing Dollars to Customer Acquisition Than Retention

More than one-third of SMBs say they devote the majority of their marketing budgets to customer acquisition, while just 6% say they devote the majority to customer retention, per results from a new BIA/Kelsey study. The researchers argue that the greater share of spending being devoted to customer acquisition programs may be a result of buying habits rather than preference. Indeed, the study also finds rising interest in loyalty programs, which could cannibalize some dollars from customer acquisition programs. (more…)