While acquiring new customers is a matter of survival, maintaining and retaining existing customers offers the double benefit of lower costs and higher returns. The value of building a loyal customer following in 2020 is essential for a company to stay relevant or even in business.
With your competition, only a click or swipe away, delivering a unique customer experience cannot be overstated. It's been proven that retaining existing customers is significantly more cost-effective than acquiring new ones — in some cases up to 5x more. This will only become more apparent as acquisition costs continue to rise.
Brands must continue to invest in technologies that will enhance their chances of persuading customers to not only buy and return, but to ensure that the experience the consumer participates in reflects their standards and is shared across their digital following.
At the core of all these technologies is behavioral data, which helps fuel personalized experiences and grow conversions and ROI.
In this 30 minute webinar, our expert speaker Nick Schnieder will explore:
• New vs Returning Customer and the value they both bring
• How data and marketing analytics can be leveraged to create personalized experiences
• Understanding and cultivating positive behavioral actions along the customer journey
• Use cases of brands developing and delivering personal, long-term relationships with customers