Understanding the Challenges of Acquisition and Retention

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Today’s customer journey is more complex than ever, with multiple points of interaction, which also means increased risks. Every missed opportunity to solve a problem, every poorly prepared customer interaction, presents the possibility of losing an existing customer or a hot prospect. The challenges are clear, but fortunately, there are many opportunities to retain your customers and improve customer lifetime value (CLV). Let’s take a closer look.

What if the key lay in the connectivity of your channels?
Your potential customers are scrolling through social media, visiting your website, and looking for more information. They’re clicking on links from their laptops, tablets, and phones, scrolling through emails from countless companies, and interacting with chatbots—all with the expectation of seamless responses. All of these interactions generate data, but that data gets lost, scattered across channels and devices, disconnected and fragmented.

However, these interactions should be viewed as part of a connected story, a continuou founder email lists ty and preferences. Focusing on converting a greater proportion of marketing leads into lifetime customers while reducing attrition and abandonment at every stage of the journey.

Let's start with acquisition, then retention, and finally bring them together to achieve the main goal: maximizing customer lifetime value.

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Acquisition: How to do it right from the start?
First and foremost, with the ever-expanding array of media choices available today, you need to understand that your ideal customers may not even be aware of your existence. With hundreds of ads bombarding their screens daily, consumers often tend to ignore, turn off, and discard. Mass advertising can indeed build brand awareness, but it comes at a substantial cost, especially with decreasing click-through rates (CTRs) and increasing costs per mille (CPMs), making initial acquisition a formidable challenge.