Already buy from you Customer retention is a great opportunity to cut costs and increase key business metrics, but there are several other reasons to retain those who already buy your products or use your services: It is always easier to motivate a regular rather than a new customer to make a purchase in an online store. Because the first one has a lot of information, knows your strengths, navigates the catalog better and, quite possibly, managed to make a list of favorite products that he can buy from you. Accordingly, marketing resources (not only financial, but also temporary.
Human in this case are spent to a lesser extent than in the process of attracting new customers. Increasing LTV Due to their useful actions on the store website, regular customers provide a higher conversion and give a better Latest Mailing Database level of LTV (Lifetime Value - customer lifetime value). They know your store and assortment well, therefore they form an active audience of site visitors - a segment of the consumer audience that performs targeted (useful) actions: visiting a specific product card.
Subscribing, purchasing, etc. This allows you to increase sales, because in most cases customers complete their Customer Journey with a checkout. Increasing customer loyalty In the financial services industry, a 5% increase in customer retention leads to a profit increase of more than 25%, according to a Harvard Business School study . This is due to the fact that loyal customers tend to buy more, their average check by amount, as a rule, exceeds the purchase check of a new client. As a loyal customer purchases in large amounts, the company's operating costs for its service decrease. However, these are not all arguments in favor of a loyalty strategy.