Differentiation allows you to provide superior value to your customers, creating a win-win scenario that can increase the overall profitability and viability of your business. Companies invest a lot of time and money in differentiation – from product to service to price to customer experience.

Customers are fickle and they’re constantly changing. Trying to build that long-term relationship with consumers is really challenging and a lot of this is due to three major shifts in consumer attitudes that we’ve observed over the past 10 years the first is a shift in consumers attitudes towards technology. Consumers agreement that ‘technology is important to them’ has indeed increased from 31% to 64% in the last 10 years.

Businesses are spending vast sums in marketing to acquire new customers trying to replace their lost customers. But research shows that they might be better served by designing strategies to bring back your lost customers. The chances of selling to an existing customer is 60 – 70%, while the chances of success for selling to a new prospect is 5-20%. Existing customers are 50% more likely to try new products and spend 31% more, when compared to new customers. So, how are you re-engaging with your past customers? Or even, do you have a track of who had been your past customers?