To succeed, businesses must prioritize recognizing and retaining existing customers, not just acquiring new ones.
While the "Customer Recognition Ratio" isn’t a formal metric, the concept of understanding customers through their past interactions is crucial. Metrics like CRR, CLV, and RPR highlight how customer recognition drives profitability by reducing acquisition costs.
Platforms like Pretectum CMDM are vital for achieving this by centralizing and enhancing customer data, enabling a deeper understanding and stronger relationships.
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https://www.pretectum.com/the-customer-recognition-ratio/