If 70% of your business comes from repeat customers, why aren't you investing in Customer Lifetime Value? The key to increasing Customer Lifetime Value (LTV) is to thoroughly engage your customers - and how do you do this? By anticipating their needs and empathising with their problems.
Research continues to reveal that it's better to retain a customer rather than acquire a new one. Despite this, the 2015 Retention Marketing survey reported that:
“60% of retailers report a retention rate of less than 20%.”
This means there is an opportunity to increase your retention strategy. You can better understand every interaction your customer has with your company by mapping their journey from end-to-end. Find out more about what Proto Partners can do for your company with the power of Customer Journey Mapping.
Empowered with this understanding, your company will have the competitive advantage it needs to retain your customers - for life.
You can find out more about building Customer Lifetime Value.
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