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33 What KnowledgeBase Marketing Does Compared with newcomers, Long term customers: Buy more per year Buy higher priced options Buy more often Are less price sensitive Are less costly to serve Are more loyal Have a higher lifetime value Retention is the way to measure loyalty Retention pays better than acquisition Two Kinds of Database People Constructors People who build databases Merge/Purge, Hardware, Software Creators People who understand strategy Build loyalty and repeat sales You need both kinds! What doesn’t work:Treating all customers alike Marketing to Cust