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Technology is now influencing retention marketing completely. With a vast chunk of consumers comprising Millennial digital natives, every business knows consumers are tech-savvy about what they want and look for easy access to information and products. Customers are ready to pay for personalised experiences and offers from the best brands. As per a 2016 survey conducted by Accenture, close to 64% of customers in their research study sought personalised and relevant offers from companies. A majority of the respondents were more likely to purchase from retailers that provided targeted offers catering to their interests, needs and requirements. Mapping the customer journey offers vital insights into behavioural patterns and customer intent for creating the ideal personalised experience for customers. The benefits of customer retention strategies that focus on personalisation should be apparent. Gain Valuable Insights Apart from tracking and monitoring customer jour...

If your organisation is focused on customer acquisition and not retention, you are missing out on a chance for regaining lost customers and attaining record sales. Loyal customers are easily the most profitable. Customers who are referred generate the best returns on marketing investment, too. A study by Marketing Metrics even shows that companies had a 20 to 40% chance of regaining lost customers, as against 5 to 20% chance of converting prospects to customers. Customer retention strategies need to focus on winning back lost customers as opposed to just looking to acquire new clientele. It’s definitely more cost-effective and efficient to go after lost clients than build new prospects, and this is how you can accomplish it: Understand Why You Lost the Customer Analysing customer behaviour is the key to understanding if they are likely to return to the fold. Research suggests customers who referred other customers, or had complaints resolved properly were generally the...

Active consumers are spanning many different generations from Traditionalists   to Baby Boomers, Gen X, Y or Z to Millennials. Each of these generations bring unique perspectives on customer loyalty to the retail sector. Customer retention strategies are, therefore, focused on understanding the challenges of meeting the requirements of older folks in the multi-generational marketplace. Identifying the needs of older adults and providing products and services that encourage retention and engagement remain the focus of most brands. A one-size-fits-all approach simply won’t work. With so many companies focused on understanding Millennials, customer retention for older clients is almost always an attempt to bridge generational gaps with generic offerings. This is where most companies miss the opportunity to truly connect with the mature adult groups who have certain expectations from a brand. Older adults have enormous spending power and unique preferences regarding regarding ...

Customer service is essential for a business to thrive. Mobile technologies have ensured the quality of service remains exceptional. This is important because customers have more alternatives than ever. Businesses that prove to be responsive to customer complaints, questions or other needs can gain a competitive advantage. That is why it is so essential to understand how new mobile technologies can help in anticipating customer requirements, tailoring business processes to serve clients better and enhance the efficiency of the business. Here’s how mobile technologies have impacted customer retention strategies and changed loyalty marketing for the better. Generating Loyalty The goal of any business in terms of customer interactions is the generation of loyalty. There is no better way to accomplish this than being responsive to customer needs. As new technologies have come into the market, making it easier for for businesses to offer customer service, an increasing numb...