DTC: Why retention is the new acquisition
There's more to customer retention than meeting expectations. Customer lifetime value is critical to all businesses, especially D2C brands.
Did you know?
– 44% of retailers primarily focus on customer acquisition and only 18% prioritize customer retention.
– Acquiring a new customer can be 25 times more expensive than retaining an existing one.
– Increasing customer retention rates by 5% could result in a 25% increase in profits!
We all know why customer retention is crucial for your brand’s success. It’s the “how” that is the hardest part of it! Kristen LaFrance, Head of Resilient Retail at Shopify, will join us to answer this question and give you hands-on tips to achieve a successful retention model.
Kristen LaFrance is Head of Resilient Retail at Shopify, the Mayor of DTC Twitter, lead of all things retention and growth-related at Churn Buster, host for the Playing for Keeps and eComm Noms podcasts, and has a love (read: obsession) for all things eCommerce.
What you’ll learn
- What you can do right now to take customer retention to the next level
- Why focusing on customer retention will put you ahead of competition
- How to optimize your post-purchase communication to improve customer loyalty