Customer Retention, Critical for a Long-lasting Business
That’s why one of the most important Key Performance Indicators (“KPIs”) for a marketer is “the lifetime value of a customer”. Maximizing that lifetime value should be your goal, and in most cases, it’s more important than the value of their first purchase. If they only visit once, the value of that first purchase is the lifetime value. Customer retention is the necessary precondition for growing customer lifetime value.
So, it’s important to retain a customer, by giving them an incentive to return again and again. Retaining a customer for years is more valuable, in general, than attracting many new visitors for a single visit. The crucial issue, of course, is how you can do that.
Retention Marketing isn’t, as they say, rocket science. Any marketer can improve visitor retention. Even so, it is helpful to have some advice and guidance from someone who has the experience and can tell you what works.
The WebEngage website is offering an e-book they call “A Beginner’s Guide to Retention Marketing for Online Consumer Businesses” to give you insights into what is working for other marketers in retaining visitors and customers. While the book’s primary focus is on retaining end-users (or “consumers”; hence the term, “Business to Consumer” or “B2C” marketing), it also briefly addresses the retention in a “business to business” (“B2B”) environment.
The book’s 13 chapters provide a thorough overview of how and why to increase your customer retention. As you might expect, there is a commercial at the end of the book for their services for helping you to retain your customers. You may be interested; you may not. Either way, there is helpful actionable information for improving your own customer retention.
A Beginner’s Guide to Retention Marketing for Online Consumer Businesses
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