Estimates vary by study and industry, but experts consistently agree: customer acquisition is more expensive than customer retention. In fact, customer acquisition can run anywhere from 5 to 25 times more expensive, and research indicates that increasing retention by 5% can increase profits by 25 to 95%. For traditional financial institutions (FIs), the introduction of new competition… Continue reading Churn is Eating Away at Your Profitability. Machine Learning Can Help.
Tag: Financial Services
Three Ways Venture Capital Firms Add Value Beyond A Check
It’s a tough time to be in venture capital. Years ago, VC organizations were the only place for start-ups to get the funding they needed to grow. That’s started to change. In 2018, regulation crowdfunding became more significant in terms of speed to close and funding. For example, Venture Beat found that 60% of start-ups are successful… Continue reading Three Ways Venture Capital Firms Add Value Beyond A Check
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