Customer Retention Strategies in 2020
2019 was a busy year in the Customer Loyalty space. Companies have been acquired and new strategies and methodologies are starting to percolate through eCommerce and Multichannel businesses. Due to rapid changes in technology and customer expectations, the strategies in that may have worked in the 2010’s will absolutely NOT work in the 2020’s.
With companies looking for strategies to accelerate growth, they’re smartly looking at their existing customer base to see how to build a stronger relationship so they can maximize customer lifetime value (CLTV).
Businesses need to retain customers while attracting new ones, and any business that does not have an advanced loyalty solution will simply struggle to effectively compete in the marketplace.
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