Each industry had varying degrees of how they would prefer to shift their budget versus how it is currently allocated.
Tech leaders wish to decrease budget for customer acquisition nearly 40% basis points, from 52% to 37%; Increase budget of renewal from 26% to 38%; and desire a minor modification for customer upselling. Retail/consumer service marketers wish to keep customer acquisition budget allocation flat; Decrease budget of renewal/retention from 45% to 38%; and desire to increase customer upselling up >30%, from 17% currently to 24%. Business Services wish to decrease budget for customer acquisition about 10% basis points, from 40% to 36%; Decrease budget of renewal from 41% to 37%; and increase customer upselling by nearly 40%. Finally, Industrial marketers wish to reduce customer acquisition budget allocation by about 8%; Keep the budget relatively flat for renewal/retention; and desire to increase customer upselling up >20%, from 19% currently to 24%.
In general, marketers would like to divert budget from customer acquisition and invest more in customer retention/repeat and upselling efforts.
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