Customer Acquisition vs. Customer Retention: What is the Difference?
As entrepreneurs, marketers, or stakeholders, we may find ourselves asking: Should we direct our resources toward attracting new customers? Or should we focus more on retaining the ones we already have? The answers to these questions are crucial as they significantly impact a company's growth trajectory and bottom line. In this comprehensive blog post, we delve deep into the realms of customer acquisition and customer retention, dissecting each concept to understand their purposes, techniques, metrics, and impacts on profitability. By doing so, we aim to provide you with a clearer perspective and enable you to strike the right balance in your own business strategy. So whether you're a start-up in the throes of customer acquisition or an established business seeking to boost customer loyalty, this post promises to equip you with valuable insights.
Email vs. SMS Marketing: Which Marketing Channel is Right for Your Business?
In today's digital age, businesses have a myriad of channels through which they can communicate with their customers. Two such channels, which have proven to be highly effective for many businesses, are email and SMS. While both serve to reach out to customers and potential leads, they offer unique features and advantages and can serve different purposes in your marketing strategy. In this blog post, we're diving deep into the world of email marketing and SMS marketing, comparing their strengths, weaknesses, and best applications. Whether you're a small business owner, a marketing professional, or someone simply interested in the dynamics of digital marketing, this comparison can offer valuable insights.
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It's Time for Retention Marketing, Not Just Marketing
Many businesses work to acquire as many customers as they can to increase profits. However, the fact is that there's potentially more revenue in retaining those customers. The many advantages of effective customer retention make it important to focus on retention marketing as much as other efforts. In this blog post, we'll dive deep into retention marketing, its many benefits, and some strategies that you can use to retain your customers in the long term.
The Power of Inspiration in eCommerce
Effective demand generation is all about a discovery journey filled with consumer inspiration. In this context, "inspiration" means giving ideas to users and helping them imagine how a particular product can benefit them (e.g., how they'll look in that green dress or how great those shoes will look with the dress they already have). What's the point? Many online consumers are actively seeking inspiration. They want ideas for an upcoming project or event. They are ready to buy. So, “inspiration” for the sake of demand generation is a strategy that eCommerce brands should seriously consider investing in. Because if they can deliver the relevant content to the right person at the right time and spark a moment of inspiration, that’s a happy ending for all.
Spotify Wrapped: Creating Year-In-Review Experiences Personalized for Unique Customers
What was your favorite song in 2022? Which albums turned into an obsession? How about guilty pleasures - the songs you listened to after making sure “the social share” button is switched off? You might not remember it all. Don’t worry! That’s why Spotify creates its traditional end-year activation “Spotify Wrapped.” When it’s that time of the year, when all the Christmas ads are out, red Starbucks cups are in use, and “All I want for Christmas is you” again becomes the most played song, you know that Spotify will soon ping you with a summary of your “year in music.” In this blog post, we explore the details behind Wrapped's success story and explain how to create a similar experience on your website or in your mobile app using Storyly Stories.
Stay Ahead of the Game: Top 15 eCommerce and Retail Podcasts to Keep You In The Loop
If you're in eCommerce, you know how important it is to stay up to date with the latest news and trends in your industry. But the eCommerce industry is constantly changing and new trends, technologies, and best practices emerge all the time. It can be difficult to keep up with all the latest developments and incorporate them into your eCommerce strategy. That's why I've put together a list of some of the best eCommerce podcasts out there. From interviews with successful entrepreneurs to deep dives into marketing strategies, these podcasts cover a wide range of topics and provide invaluable insights for anyone looking to grow their eCommerce business.
14 Proven Ways to Increase Average Order Value
Average order value (AOV) is a key metric in eCommerce that measures the average total of every order placed with a business over a defined period of time. It is calculated by dividing total revenue by the number of orders. AOV is used to understand customer behavior and to frame marketing and pricing strategies. Businesses aim to increase the average order value to maximize revenue from each customer transaction. This can be done through various techniques such as upselling, cross-selling, bundling products, or offering free shipping on orders over a certain amount.
24 Best Email Account and Service Providers
Selecting the right email account provider or email service provider is crucial for managing your digital communication effectively and securely. This comprehensive comparison of popular email providers highlights the varying features, pros, cons, and pricing structures each one offers. Some providers focus on privacy and security, while others prioritize user experience and seamless integration with various devices and services.
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