Customer retention 101: Sell more to current customers to grow your business
It’s a fact you have heard over and over. It is cheaper to convince existing customers to buy again than to find new customers. This is true for many businesses, particularly in the crowded ecommerce market where clicks and conversions seem to be increasing in price.
Have you ever looked into ways to re-engage customers and get them back? Now is the time to create a cohesive strategy to retain customers. Let’s take a look at the steps to follow.
What is customer retention?
Retention strategies allow you to provide more value to your customers and get more from them. It is important to retain the customers that you have worked so hard to win, to provide a great customer experience and to continue to benefit from your products.
Acquisition creates customers, while retention strategies are how you build customer relationships. How much time and how many resources should you allocate to your retention program. It all depends on the store.
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