Analyzing The Retention Stage Of The Buyer’s Journey
The retention stage of the buyer’s journey is the most important stage of the buyer’s journey. It is often the most overlooked. Many organizations always invest much energy in selling the product but not many people think of how they can develop brand advocates. This often affects their revenue as they do not have multiple streams of customers that will often come back for repeat purchases.
There is one fact that organizations need to understand. It is better to focus more attention on satisfying existing customers than try to woo new customers. Your organizations will start making a reasonable profit when you start retaining existing and encouraging repeat purchases.
Also, at the interest stage or awareness stage of the buyer’s journey, it will take less effort to convince an existing or returning customers because he has already used your product. He actually knows what you can offer.
When it comes to retaining customers, there are many tactics that organizations can use to retain customers that are coming back for repeat purchase. He can make use of content, email newsletters, promotional offers, and customized offerings in order to make customers purchase their products. Without a determined effort to introduced.new offers to existing customers, they may shift attention to your competitors.
One of the means of retaining existing customers is to find time to appreciate them for purchasing your products or services. You can send a “Thank you” message to them after every purchase. out also create a drip programme through email marketing to educate them more about your products and services. You can also encourage them to sign up for more email newsletters or give them discounts on products that they are likely to be interested in.
It is always good to find out what characteristics your new customers have with your existing customers. This will allow you to target the right type of customers and drag them to your customer lifecycle.
Today, with the correct application of digital marketing and analytics, the retention stage can be really exciting. The more you know about your customers through analytics, the more you are able to offer products and services that will meet up with their needs. You have to gather data from different sources and be able to predict customers ‘ next move correctly in order to retain them.
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