Despite the evidence stressing the importance – and payoffs — of a concerted effort to retain customers, many organizations continue to spend a lopsided amount of time and resources on customer acquisition. In the process, they are overlooking rich pockets of revenue and predictably strong ROI from evolving customer relationships. Here are three common retention roadblocks marketers need to get past.
It’s time for retailers to drop their expectations – of loyalty, that is. Too often, rigidly focusing on the best, most loyal customers leads to ignoring others who are worth pursuing. Winning in retail today requires keeping an eye on all customers, even those not living up to loyalty expectations. Here’s how to take an approach that balances both loyalty and engagement.