The key sentence in this interview with Sucharita Mulpuru-Kodali from Forrester Research for me is:
“Retailers need to work on retaining their best customers and focus on customer retention more than customer acquisition if they want to reduce marketing costs.”
Our experience shows that retention is not being focused on enough, with numbers being the priority. Numbers like database size, for example. Woo-hoo! We’ve got X number on our list. Yes, but it doesn’t mean much if they’re not opening your emails and converting, either online or in-store.
Retention is Marketing 101. Why oh why are so many marketers magpies? Oh, look! A shiny new thing…