While there are new social media platforms launched continuously, it increases complexity for product managers to optimize marketing budget for different channels. Small Mid-sized Businesses (SMBs) have started to shift more dollars for customer retention.
http://www.marketingcharts.com/wp/direct/smbs-devoting-more-marketing-dollars-to-customer-acquisition-than-retention-27385/
Indeed, improving customer service can help improve retention, which essentially is a low hanging fruit granted enough attention has been paid. In addition, in today's tough financial times, it becomes even more important to track your customers and provide personalized services. To improve retention in financial services, web analytics softwares can track customers' browsing behavior, providing clues about customers intentions. Hence, providing personalized content and improving customer experience will generate new cross-sell opportunities and improve returns on marketing dollars.
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