Care about those who already buy from you Saving Marketing Resources Increasing LTV Increasing customer loyalty 5 customer retention methods Watch out for churn signals Find an approach to each customer segment Reward your profitable VIP clients Personalize your next steps Keep all your promises and give useful advice Conclusion Why you need to care about those who already buy from you Customer retention is a great opportunity to cut costs and increase key business metrics, but there are several other reasons to retain those who already buy your products or use your services: Saving Marketing Resources It is always easier to motivate a regular rather than a new customer to make a purchase in an online store.
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Because the first one has a lot of information, knows your strengths, navigates the catalog better and, quite possibly, managed to make a list of favorite products that he can buy from you. Accordingly, marketing resources (not only financial, but also temporary and human) in this case Denmark Cell Phone Number List are spent to a lesser extent than in the process of attracting new customers. Increasing LTV Due to their useful actions on the store website, regular customers provide a higher conversion and give a better level of LTV (Lifetime Value – customer lifetime value). They know your store and assortment well, therefore they form an active audience of site visitors – a segment of the consumer.
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Audience that performs targeted (useful) actions: visiting a specific product card, subscribing, purchasing, etc. This allows you to increase sales, because in most cases customers complete their Customer Journey with a checkout. Increasing customer loyalty Business Lead In the financial services industry, a 5% increase in customer retention leads to a profit increase of more than 25%, according to a Harvard Business School study . This is due to the fact that loyal customers tend to buy more, their average check by amount, as a rule, exceeds the purchase check of a new client As a loyal customer pu.