Customer retention rate is the metrics that actually reveals if your marketing, customer care and sales teams are working effectively and fortifying your business. So what is retention rate anyway?
When do you know that customer is churned in e-commerce
Sometimes your customers simply leave the English way: without even saying “Good bye”. This is not just one lost customer, this is actually losing additional income and losing investment. Customer churn is more dangerous thing than it might seem. This is why churn prediction is of high importance for your business.
How to completely fail at customer retention
Do you want to get some customer retention strategies to make your business grow? Well, you can find this information all over the Internet. We can only teach you how to completely fail at customer retention. It’s a piece of cake to fall short, so read some valuable advice (and do the opposite, if you decide to retain customers).
Relation between Purchase Frequency and Retention in eCommerce
Stores have been smartening up their places and window displays to match the new found purchasing power of their customers from the very first days of their existence. Some would go even further with this like “Barbershop”, the custom in the 16th and 17th centuries of spending time in a barbershop by harmonizing to a lute or guitar provided to … Read More
Diving Deeper Into Customer Segmentation: RFM and CLV
As I explained in my last blog post, utilizing customer segmentation in your targeting helps you to take a step back from the traditional but less powerful mass marketing techniques and embrace personalization. Understanding that your customers are all different and need to be marketed based on their unique needs, preferences, and habits will help to make both your message … Read More
One Size Does Not Fit All: The Importance of Customer and Lead Segmentation
Mass marketing, or attempting to appeal to one large market through a singular strategy, is an age-old tactic. As the years go by, however, it is becoming clearer and clearer that mass marketing is a much too time-consuming, inefficient, and expensive plan, especially for niche brands and services. This so-called “one size fits all” approach is fading fast, and it … Read More
