Retention is a hot topic as we move toward a post-COVID world.
With many retailers gaining customers over the past 14 months due to consumers flocking to online channels, many are now looking to how they can keep these customers engaged and active.
But it’s a struggle. With varying circumstances in the world around us, it’s hard to know where to start with retention efforts.
Lots of retailers start their retention efforts by offering new customers endless discounts and promotions. The problem is that this trains your customers to only buy when there are promotions available, making the revenue streams you gain less profitable than they could be, and generally, less effective.
Retailers need to change their mindset to understand that retention starts the moment you make first contact with a customer. As soon as you open that mutually agreed-upon relationship with a person, the fight to retain them begins. Every action from that point is a part of retention.
Creating an experience through email is central to this fight for loyalty. Customers need to be engaged by what they are sent, not just blasted with whatever content brands happen to have on hand.
This is something stressed by Shopify’s Kristen LaFrance. She’s currently the host of the Shopify podcast “Resilient Retail,” which focuses on giving retailers actionable insights to make their businesses future-proof.
Kristen’s background in retention and digital experience makes her an awesome guest for the podcast this week, and an amazing resource for those looking to maximize their brand’s potential for retention.
Some of the topics discussed include:
- The downside to an acquisition-first mindset
- Retail’s rebound in 2021
- The advantage that bricks and mortar retailers have over digital natives
- Email strategies that cultivate LTV
- Using personalization to minimize churn
It’s such an important and informative discussion that can teach email teams a ton.
Listen below or on your favorite podcast app. If you enjoy the episode, please leave a rating and subscribe for future podcasts.