While optimists are hoping for economic recovery to begin soon, advertisers across all channels are desperately awaiting signs of the slightest uptick. All advertisers continue to scrutinize their marketing dollars during the present economic situation; however, many of these advertisers focus solely on a simple cost-per-lead goal and, consequently, rely on this arbitrary goal as a true gauge of performance. The result? No matter their heightened scrutiny, these advertisers are falling short.
There's a saying in the business world: Customer acquisition is an investment, but profitability is built on customer retention. And with the economy in its current state, it's more important than ever to keep the customers you have.
Perhaps the most painful happening for any agency is the transitioning of a client. Whether you are gaining or losing the client, these occurrences are notoriously characterized as awkward and often- unfriendly exchanges that leave agencies and clients jaded, not to mention at a disadvantage. Client and agency performance suffers when transitions are handled haphazardly and with disdain, yet this is the environment in which we continue to operate.