Integrate retention tactics at every touchpoint of the consumer journey to build loyalty and augment consumers’ lifetime value
As customer acquisition costs increase, retailers looking to grow in 2022 should concentrate their marketing efforts on retention and converting loyal customers into brand advocates. Marketers can leverage loyalty programmes with incentives to entice prospective consumers. 63% of UK customers will join the loyalty program of a brand they like, as per a recent Yotpo survey.
Influence purchase decisions via user-generated content by encouraging existing customers to post detailed reviews by offering rewards through a loyalty programme. Incorporate SMS marketing into the mix to promote time-sensitive marketing campaigns via loyalty programmes.
To attract existing customers, use zero-party data like purchase history, preferences, and more to deliver personalised content like product recommendations. Offer incentives like discounts for referrals for consumers who are more involved with the brand.
[3 minute read]