According to Bain & Company, a 10 percent increase in customer retention can mean a 30 percent increase in profitability for the company. And according to Market Metrics, the probability of selling to an existing customer is 60 to 70 percent, while to a new prospect it’s just 5 to 20 percent.40 Bronson Taylor, host of Growth Hacker TV, puts it in a phrase: “Retention trumps acquisition.”41
