Understand the importance of retention
Retention strategies are not simply “nice to have” solutions; they are the backbone of sustainable business growth. In fact, companies that increase retention by even 5% can see profits increase by up to 95%. (Bain & Company)
Retention marketing, at its core, encourages repeat purchases and fosters ongoing engagement from customers who have already interacted with your brand. It focuses on engaging someone after their first purchase to build loyalty, spur advocacy, and ultimately, raise their customer lifetime value (CLV). Learn more about the power of retention in the video below.