Learn Digital Marketing Training from the Best Tutors
Affordable fees 1-1 or Group class Flexible Timings Verified Tutors Search in
Asked by Balaji Last Modified
Answer 
Customer retention is the key to a successful business. A business may initially survive with new customers, but for long-term stability and growth, customer retention is essential. Relying solely on acquisition is cost-intensive and unsustainable, making customer retention crucial for sustained revenue and competitive advantage. Higher customer retention:
1. Increases Profitability:
Retained customers often have a higher lifetime value, purchasing more over time, which boosts overall profitability.
2. Reduces Acquisition Costs:
Acquiring new customers is often more expensive than retaining existing ones, so focusing on retention helps in optimizing marketing spend.
3. Enhances Brand Reputation:
Satisfied, loyal customers are more likely to become brand advocates, promoting the brand through word-of-mouth and positive reviews, thereby enhancing brand reputation and trust.
3. Facilitates Personalized Engagement:
Retention strategies typically involve personalized communication and engagement, fostering a deeper connection between the brand and the customer, and increasing customer satisfaction and loyalty.
4. Provides Competitive Advantage:
High customer retention rates can differentiate a brand in competitive markets, contributing to long-term business success and growth.
Related Questions
I have done mba and i want do career in digital marketing but what is scope of digital marketing and is there job available for fresher after Completed digital marketing course?
Dear Sir, I want to learn facebook online right from the scratch for my page. Can you suggest the cost ?
Haleema
Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com
Ask a QuestionRelated Lessons
Recommended Articles
What is Email Marketing?
In today’s digital world, we assume that anyone can write an email. Isn’t it? We all send and receive quite a few emails every day. However, to your surprise, even today, very few professionals know how to compose emails effectively. Yes, writing an email is an art in itself and requires a certain degree of creativity,...
Read full article >
What is Web Analytics?
Web Analytics is a process of measuring and analyzing web traffic that a particular website receives. It is a very useful way of collecting, measuring, analyzing and finally reporting the web traffic information in order to get useful insights, increase visitors, and take effective decisions based on these metrics. For...
Read full article >
8 Essential Skills of a Digital Marketer
What is Digital Marketing? Digital Marketing is the medium of marketing done through electronic devices - Mobiles, Tablets, Computers, Game Consoles and more. It also applies to utilizing platforms and technologies such as e-mail, apps, and social networks. With multiple benefits and higher ROI, increasing number of businesses...
Read full article >
What is Digital Marketing?
In simple terms, Digital Marketing refers to the use of digital devices to market your products or services. Thus, Digital Marketing is a form of marketing that makes use of electronic or digital devices like computer and internet, smartphones, tablets, digital voice recording, mobile apps, web banner ads, etc to engage...
Read full article >
Looking for Digital Marketing Training ?
Learn from the Best Tutors on UrbanPro
Are you a Tutor or Training Institute?
Join UrbanPro Today to find students near youThe best tutors for Digital Marketing Training Classes are on UrbanPro
The best Tutors for Digital Marketing Training Classes are on UrbanPro
14
