Customer retention, or the ability to generate repeat business by the same customers over an extended period of time, is critical to the success of an organisation.
Customer retention rates have also been shown to correlate directly with profitability. What can marketers do to delight their customers, ensuring that they keep coming back for more?
Econsultancy’s Customer Retention Best Practice Guide considers the strategies marketers should deploy to transform new customers into repeat customers, as well as how to optimise long-term loyalty and advocacy among the highest value customers.
Drawing from interviews with senior marketers across a wide range of business sectors, as well as a host of case studies from well-known brands, this report presents the evidence for why companies should be placing customer retention high on their agenda.
The report also covers:
- How to balance customer acquisition with retention to maximise profitability
- How to get senior members of staff on board when it comes to developing a customer retention strategy
- How to test success against business objectives, and the most important metrics to watch
- How to develop a model for personalisation, taking the customer journey and lifecycle into account
- How to identify and understand KPIs for customer retention, including churn rate.
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