Marketing Customer Retention Strategies
Leave a comment / Have you heard about customer retention strategies? You may think that it is a simple process, and it is indeed so, but you must study its nature, strategies, methods, and programs. We review all that and more in this article. What are customer retention strategies? Customer retention is about increasing the repeat rate of customers and extracting additional value from them. The goal of customer retention is to ensure that the customer makes repeat purchases, is satisfied with the company's services, and is not skewed to a competitor. What is the importance of customer retention strategies?You want to make sure that customers who buy from you have a great experience, and will continue to buy your products. Customer retention is important because of a number of benefits, including the following: 1- Higher average order value A high phone number database customer retention rate means that your customers trust your products and your company. This means they are likely to buy more from your company with each visit. Bain & Company conducted a study that showed that the longer a customer's relationship with an online retailer, the more spending the customer spends in a given period of time. For example, in apparel, the average repeat customer spent 67% more in months 31-36 of their shopping relationship than in months 0-6. 2- Increase profits Longtime customers are more willing to try other products from a company they trust and from sister companies. Higher customer satisfaction increases your profits across all product lines.
http://phonenumbervi.com/wp-content/uploads/2024/02/phone-number-database-00000-300x204.png
The same Bain & Company study found that online shoppers were more willing to purchase different types of products from the online retailers of their choice. For example, nearly 70% of Gap's online customers said they would consider purchasing furniture from Gap. 3- Better relationships with brand ambassadors Your old customers are also your brand ambassadors. Word of mouth marketing is still considered one of the best marketing strategies today. Take a look at the Dropbox case study to see how true this is. In 2008, it was difficult to market a service like Dropbox. No one really understood the importance of something like cloud storage and it was difficult to explain. However, through its referral program, it was able to grow its user base from 100,000 to four million in just 15 months. 4- More cost effective to sell to existing customers.
頁:
[1]