Strong Growth Can Come from Existing Customers: Acquiring net new buyers is great, but don’t forget about keeping current customers happy. Retaining customers can help businesses generate more revenue in the long run. Satisfied customers are more likely to make repeat purchases, and their loyalty can also lead to referrals and recommendations, bringing in additional new business.
New Customer Acquisition is Expensive: Acquiring net new buyers can be 5-25x more expensive than placing investments with the current customer base. Spend the time to ensure it’s clear what your different customer segments need from your products and company. Make sure there are programs that are centered around utilization, customer success, and loyalty.
Boost Your Customer Centricity Initiatives at Digital Velocity 2023 – Day 1
At our upcoming Digital Velocity 2023 we will be focusing specifically on customer centricity on day one of this three day virtual event. “Customer Centricity: How to Grow and Retain Your Customer Base,” features sessions on how innovative companies are creating customer-centric experiences to survive and even thrive in dynamic times and increase marketing efficiencies with the Meta + Tealium Conversion API.
“Next year Google Chrome is slated to deprecate third party cookies which will obviously have a very significant impact on the efficacy of the Facebook Pixel, which is what most of our advertisers that drive off-site use today to measure the efficacy of their ad campaigns to help optimize, to target, etc.
Because of that we feel a very strong sense of urgency around helping advertisers get more reliable and secure ways to share data about what happens outside of Meta with Meta. That’s why we’ve developed a product called Conversions API that we work very closely with Tealium on. Our feeling internally is that advertisers, while they may not necessarily be feeling a ton of impact from signal loss changes today, over time they’re going to become greater, and greater, and greater.”
– Emily Wilson, Partnership Team, Meta
Digtal Velocity 2022,
Powering eCommerce Personalization While Respecting Privacy
Over the course of all three days at Digital Velocity 2023, we’ll explore key strategies for building an organization around customer centricity, surviving and thriving in dynamic times, leveraging first-party data through innovative means, and the power of connected and secure customer data to future-proof your business. We’ll also examine top customer data use cases for growing and retaining your customer base, empowering your teams and business to ride the waves of change with stability.
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Why does it make sense to focus on customers now?
