Customer retention strategies have never been more important. In the face of economic uncertainty and increasing competition, fostering loyalty across the customer lifetime journey makes solid business sense.
Why is customer engagement important? When customers are engaged and loyal, this can correlate with higher customer lifetime value.
We explore how the economy affects consumer behaviour and 10 customer retention ideas to incorporate into your strategy.
Australians are tentatively optimistic about the economy’s future. There is no denying that the events of the last few years have changed consumer behaviour and that those changes persist. Changes in consumer trends include a dominant shift towards digital behaviour.
Nonetheless, we may be facing a global recession in the future [1]. While Australia may avoid the full brunt of the economic fallout that may follow, there’s no denying that the rising cost of living is hurting consumers.
In the face of these trends — economic uncertainty and the digitisation of consumer behaviour — businesses need to rethink their customer retention strategies. The strategies that worked in the past may now fall flat in the face of changing priorities and concerns.
The future of customer engagement is rapidly evolving. Businesses need to keep pace with this change through smart customer retention strategies that deliver results. Here are 10 strategies to consider.
Customer retention is a challenge for all businesses moving forward into 2023 and beyond. Customers expect more, and businesses must deliver. Couple these higher expectations with the accelerating speed of digital transformation, and it’s clear that customer experience and engagement is the key to successfully navigating the landscape.
Pendula is here to help, offering the best customer engagement and behaviour platform for conversations that power customer retention. As a no-code Digital Communications platform focused on retention, Pendula allows you to create automated workflows integrated with your customer data.
When you’re ready to step up your customer retention strategies, we’re here with the solution. Talk to an expert about how Pendula can make a difference to your customer retention and loyalty.
References:
Renju Jose, Reuters. October 12, 2022. Australia hopes to fend off recession despite global economic dangers-Treasurer [Blog post]. Retrieved from: https://www.reuters.com/markets/australia-hopes-fend-off-recession-despite-global-economic-dangers-treasurer-2022-10-11
Customer retention strategies have never been more important. In the face of economic uncertainty and increasing competition, fostering loyalty across the customer lifetime journey makes solid business sense.
Why is customer engagement important? When customers are engaged and loyal, this can correlate with higher customer lifetime value.
We explore how the economy affects consumer behaviour and 10 customer retention ideas to incorporate into your strategy.
Australians are tentatively optimistic about the economy’s future. There is no denying that the events of the last few years have changed consumer behaviour and that those changes persist. Changes in consumer trends include a dominant shift towards digital behaviour.
Nonetheless, we may be facing a global recession in the future [1]. While Australia may avoid the full brunt of the economic fallout that may follow, there’s no denying that the rising cost of living is hurting consumers.
In the face of these trends — economic uncertainty and the digitisation of consumer behaviour — businesses need to rethink their customer retention strategies. The strategies that worked in the past may now fall flat in the face of changing priorities and concerns.
The future of customer engagement is rapidly evolving. Businesses need to keep pace with this change through smart customer retention strategies that deliver results. Here are 10 strategies to consider.
Customer retention is a challenge for all businesses moving forward into 2023 and beyond. Customers expect more, and businesses must deliver. Couple these higher expectations with the accelerating speed of digital transformation, and it’s clear that customer experience and engagement is the key to successfully navigating the landscape.
Pendula is here to help, offering the best customer engagement and behaviour platform for conversations that power customer retention. As a no-code Digital Communications platform focused on retention, Pendula allows you to create automated workflows integrated with your customer data.
When you’re ready to step up your customer retention strategies, we’re here with the solution. Talk to an expert about how Pendula can make a difference to your customer retention and loyalty.
References:
Renju Jose, Reuters. October 12, 2022. Australia hopes to fend off recession despite global economic dangers-Treasurer [Blog post]. Retrieved from: https://www.reuters.com/markets/australia-hopes-fend-off-recession-despite-global-economic-dangers-treasurer-2022-10-11