Retain existing customers

It is usually far more cost effective to retain existing customers than to find new ones. If customers are satisfied with the purchase, have a good customer experience, and the purchase isn’t a ‘one-off’, techniques used to encourage them to do business with you again can create loyal repeat customers and a source of recurring revenue. On average, customers that purchase from you once have a 27% chance of visiting you again, and those that do visit again have a 54% chance of further repeat visits. An example of a retention tactic is offering an exclusive discount for visitors that have purchased on similar or related items, using scarcity and encouraging them to purchase again.

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