Attracting new customers is cool and all, but do you know how to keep them around?
The lifetime value of your customers is entirely dependent on how hard you work to keep them around. Creating an engaging customer experience designed with the customer in mind will keep them coming back for more. Not only that, but it will turn your biggest supporters into brand advocates for your business online, on social media, and in person.
But creating that momentum around your brand powered by delighted customers takes work on your end. It's not enough to have a great product. Customers expect an experience when purchasing products. Many companies are using customer retention marketing to provide that seamless customer service and brand experience.
Customer retention marketing can get confused with acquisition marketing because they use many of the same strategies. The difference between the two is simple: acquisition marketing is attracting new customers, and retention marketing is about keeping them around. The best marketing teams in the business use both strategies to create a fully fleshed out customer experience.