Retention Marketing can help brands cut costs on customer acquisition

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 02, 2019, 5:05 PM UTC

Repeat Customers are nine times more likely to complete a purchase than new customers.

Focusing on marketing strategies on past customers can help brands increase their sales and reduce the overall cost of acquiring new consumers. Repeat customers don’t require extensive marketing to get them on-board as they already know and trust the brand.

Crafting personalised marketing messages, like birthday emails, foster an emotional connect with the consumers and helps in creating loyal consumers. Loyal customers can further help brands increase their customer base by sharing their products with friends and family.

Personalised discounts and new on-site experiences like welcome messages for repeat customers can help brands retain their customers better. The author contends a good customer service team can create a great experience for the existing consumers and foster brand loyalty.

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