Insider Tips for Increasing Post Purchase Engagement
On average it costs five times as much to acquire a new customer compared to retaining an existing one. Five times! Even with that sobering number starting marketers in the face, there is still a premium placed on new customer acquisition, often above all else. As an experienced digital marketing company, we are big believers in balance. A well-balanced marketing program involves making gains in all areas which certainly includes customer retention. That is why today we wanted to share our Insider Tips for Increasing Post Purchase Engagement.
Even if it cost the same amount to retain customers compared to acquiring new ones, it is simply smart business to devote some of your marketing time and budget on post0purchase engagement. There are two key reasons for this: reputation and a limited customer pool. A business should strive for satisfied customers if they wish to have a long tenure in the business.
There is also typically a fixed pool of available customers in any industry, so to maximize your revenue you need to capture and retain as many of them as possible. Remember, there is never a guarantee that a customer will re-enter your sales funnel simply because they completed one transaction. Even the mighty Amazon works diligently on Lounge Lizard blog articles.
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