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.
In the marketing world, the term omnichannel is pervasive and meant to describe efforts by companies to diversify and broaden the tools, channels and platforms they use to reach their audiences. After all, digitally-connected consumers today are using email, social media, websites and a wide variety of media formats to communicate with each other and stay in touch with the brands and businesses they care about.
The challenges of loyalty program acquisition and adoption reflect the overall challenges of a burgeoning ecommerce market. Consumers demand more convenience, more rewards and more meaningful engagement – this applies equally to loyalty programs as it does to your store’s overall value proposition. Here are five ways to break the challenges retailers face with their loyalty programs.
The sales funnel is the main tool showing where you lose customers and what stage of the customer relationship is the most problematic. It also shows what things should be changed in order to increase revenue. Here are several ways retailers can utilize the sales funnel for their business in the next three years.