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How bonuses and incentives help customer retention 

365 Retail

What is customer retention? Customer retention refers to a company’s capacity to convert purchasers into repeat customers, preventing them from purchasing from a rival. Why is customer retention crucial for businesses?

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[eCommerce 2021] A Step-by-step Guide to Customer Retention

lateshipment

Did you know that the average Customer Retention Rate (CRR) is just around 35% for eCommerce businesses. Just take a look at these stats 65% of a company’s business can be credited to existing customers. Companies have to spend 7 times more to get a new customer than to retain an existing one.

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How to Solve the Customer Retention Problem (And Make Your Customers Happy!)

Kissmetrics

Customer retention. Its goal is to retain as many customers as possible. After all, a loyal customer is worth much more than a new customer. Here’s the problem: companies drive customers away with poor customer retention initiatives (or a complete lack of a customer retention strategy!).

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Seen and Heard at #NRF2024: 5 Trends from the Big Show

Retail TouchPoints

Over five days and a growing portfolio of on- and off-site events, the National Retail Federation brought together more than 40,000 attendees and 1,000+ exhibitors in NYC. I’ve been through restructurings and Chapter 11s, and I both don’t recommend it [on a personal level] and do recommend it [as a learning experience].

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Revolutionising Retail: refive Showcases Innovative In-Store Touchpoints at London’s Retail Technology Show

365 Retail

As the retail landscape evolves, refive is leading the charge in enhancing revenue and customer retention for brick-and-mortar stores. Join them at the Retail Technology Show at London’s Olympia on April 24 & 25, 2024, where they will demonstrate pioneering solutions designed to transform customer engagement.

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Customer Loyalty Programs in Retail

365 Retail

By offering digital apps, or membership cards that enable customers to earn rewards or points when making a purchase, retail businesses can further collect data that helps them refine their marketing strategies. When used correctly, customer loyalty programs can be a game-changer in retail, and Starbucks’ success story is testament to that.

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How to get repeat customers: Proven strategies for success

Omnisend

Reading Time: 8 minutes A common misconception about repeat customers is that they only respond to crazy discounts. While providing discounts is an effective strategy to encourage returning customers, it’s neither the only nor the best way. Returning customers also benefit your reputation, strengthening your market position.