Most marketers know it’s cheaper to retain a customer than to acquire a new one. However, executing an effective retention campaign is not as straightforward. Marketers who want to engage at-risk customers may ask the following questions:
- Who are my customers who have already defected to a competitor?
- Who are my customers that are currently exploring other options?
- What should I offer to each of these segments to regain their shopper loyalty?
- When should I send out these promotional offers? What channel should I use?
- How do I know if my marketing campaigns were effective?