Customer retention is the most important investment any brand can make. As shoppers keep getting smarter and competition gets fiercer, discounts and promotions are no longer a guaranteed way to attract new customers. More importantly, these aren’t sustainable ways to get existing customers to come back.
This is what makes a solid retention strategy so critical to every brand’s success. Most businesses are currently operating with an imbalanced marketing budget, favoring acquisition tactics that bring short-term wins and long-term costs.
However, Harvard Business Review reports that increasing retention rates by only 5% can result in up to a 95% increase in profits.
The trick is knowing how to do it. This eBook aims to tell you how.