This new research from Emarsys explores the well-known thinking in marketing that it costs a lot to acquire a new customer, yet many will make a single purchase and not purchase again. A repeat purchase, on the other hand, costs far less than acquiring a new customer, estimated at between 4 and 7 times less.
Despite this 'truism', many brands are failing to develop true loyalty according to this research. Although brand marketers talk about loyalty, this research show that few consumers have true loyalty. The implications? Measure loyalty to understand how your brand rates and the factors that drive or prevent loyalty.
What's the reason behind this lack of loyalty? Well, marketers need to research this for their business, but it seems that poor communications is one reason...
If we get our email marketing or other communications wrong then consumers will 'react with their feet'...
But with the right offer and content, retailers can develop more loyalty...
You can download the full report on '7 Steps to Retention Automation' from Emarsys (registration is required)
By Susanne Colwyn
Susanne is a Marketing Consultant and Trainer, with over 20 years marketing experience in the public and private sector. She's passionate about supporting companies with practical result driven marketing, to help focus companies on evaluating and driving their marketing forward. Experienced in Integrated Strategic Marketing Planning, Data Segmentation, Customer Relationship Management Systems, Customer Insight and reviewing internal systems, data and processes, to maximise conversion strategies and the customer experience. You can connect with her via her LinkedIn or follow her @Qtymarketing.
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