5 Tips to Drive Long-Term Customer Retention 8 feb. 2023 Door: Louis Do you know that acquiring a new customer is much more expensive than retaining an existing customer? That’s right. Driving long-term customer retention allows small and medium-scale companies to extract maximum value from each customer, alongside increasing their repeat customer rate. Devising long-term customer retention strategies boosts customer satisfaction, market competitiveness and quadruples profitability. Moreover, it allows brands to develop brand awareness and benefit from word-of-mouth advertising as loyal customers are driven to promote their products or services. The essence of customer retention lies in developing constructive and meaningful customer relationships. Read on to explore actionable tips to drive long-term customer retention. 1. Don’t Mislead your Customers Misleading customers and setting unrealistic expectations lead to customer dissatisfaction, negative publicity, and customer service challenges. Brands focused on improving their repeat cust...
