{"id":1276,"date":"2022-02-21T16:37:00","date_gmt":"2022-02-21T16:37:00","guid":{"rendered":"https:\/\/minervawebdevelopment.com\/?p=1276"},"modified":"2022-02-21T18:00:56","modified_gmt":"2022-02-21T18:00:56","slug":"improving-customer-retention-with-marketing","status":"publish","type":"post","link":"https:\/\/minervawebdevelopment.com\/blog\/improving-customer-retention-with-marketing\/","title":{"rendered":"Improving Customer Retention With Marketing"},"content":{"rendered":"\n

Converting new customers always pays off, and you should pay attention to it. However, you can’t afford not to think about the customers you already have and take them for granted. To make it in this harsh business environment, you must keep all your current customers and get some new ones on top of them. And to help you do that, we want to share with you a few tricks for improving customer retention with marketing<\/strong>.<\/p>\n\n\n\n

Still, before we dive into the tactics and see how you can improve your marketing strategy<\/a>, let’s take a step back and look at the basics<\/em>. So first, we’ll talk about what customer retention is and why it’s so essential for your company.<\/p>\n\n\n\n

What is Customer Retention?<\/strong><\/h2>\n\n\n\n

In essence, customer retention measures how loyal your customers are<\/strong>. If your retention rate is high, it means that lots of people who buy from you come back and purchase something again. So, they’re sticking with you and your company. These people are vital for every business, but not all business owners feel that way.<\/p>\n\n\n\n

As it turns out, most companies choose to focus more on getting new customers than keeping the ones they have. So, it doesn’t go in their favor that retaining customers is far cheaper than getting new people on board<\/em>.<\/p>\n\n\n\n

On the other hand, not all businesses have to worry about their customers staying. If you have enough new people coming in, each of them is a potential long-term buyer<\/strong>. On top of that, if what you’re offering is the best solution to their problem, they’ll keep coming back for more.<\/p>\n\n\n\n

But even if you’re highly confident in your product and things look good, the chances are that some of your customers are churning<\/em>. If you could get them to stay, your revenue might skyrocket. So, there are still plenty of benefits to reap here. Let us explain it a bit further.<\/p>\n\n\n\n

Why is Customer Retention so Vital?<\/strong><\/h2>\n\n\n\n

If you look into your data, you’ll see that you make most of your money from one-fifth of your overall customer base<\/strong>. These are your most loyal customers, and the more times they buy from you, the more likely they are to do it again. So, you want this segment of your customers to grow as much as possible.<\/p>\n\n\n\n

Furthermore, there’s the problem of shipping cart abandonment<\/em>. And if your rates are high here, you’re not alone. Even the big companies suffer the same issues, and finding the fix isn’t always as easy as we all would like.<\/p>\n\n\n\n

That said, heatmaps can be heaps of help here<\/strong>. You want to find out what may be the reason people don’t go through with their purchase, and heatmaps offer an accurate way of tracking<\/a> how people interact with your pages and your website. Put two and two together, and use heatmaps to see where your customers stray off exactly.<\/p>\n\n\n\n

In general, there are three reasons why companies fail to close the deal.<\/p>\n\n\n\n