Good retention figures should always form the basis. However, that does not always appear to be the case. The acquisition costs per customer are now very much on the minds of many advertisers. It is a number that is not only known, but also a number that is controlled daily and people are working on to improve. Strangely enough, this unfortunately does not apply to the retention figures. It is often clear what the first order yields, but if you ask the question what a customer will yield over several years, it often remains silent. As a result, it is not experimented with or optimized for.
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That is not logical at all, because that number is of very great importance. It not only determines the return you can make on your online marketing investments today, but also Ivory Coast Phone Number how sustainable the strategy you are currently pursuing. Customer retention rate. Image source: r-bloggers The margin you make as a retailer on the sale of one telephone or television will often not differ that much. But, if the customer orders something from you 5 times a year, and only 2 times from the competition, the differences suddenly become very large.
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The basis for a huge flywheel is then quickly. Many large parties have seen this early on and have acted accordingly in the implementation of their strategy. Amazon promotes retention with Amazon Prime, among other things. Bol does that with Bol.com Select. With these retention programs they are able to retain customers for longer, earn more money from these customers and are therefore able to invest more money in the acquisition costs of a new customer.