For many retailers, digital marketing efforts are tied to one all-important moment — the initial purchase. To that end, countless resources are dedicated to increasing opt-ins, capturing preferences, and crafting promotional emails with the perfect incentive to secure that first purchase.
These are all important tactics essential for business success. But no matter how strong your marketing efforts, the reality is that some new subscribers will go inactive and/or never buy, resulting in wasted time and energy.
If you think of customers in terms of a simplified lifecycle, with customer acquisition first, initial purchase second and repeat loyalty third, it’s easy to see how a first-purchase focus could leave precious little time for surprising and delighting existing customers.
Translation: Many businesses are leaving money on the table by neglecting current customers in favor of increasing new business.