Successful online sales plans all have an element of online customer retention as a way to show existing customers that they are appreciated and valued.
As explained on this infographic by Go-Gulf.com, many companies place a large focus on customer acquisition and tend to neglect their current customers, an error which can negatively impact sales and company reputation greatly. While less than 10% of online visitors are repeat customers, they are responsible for almost 50% of all online revenue and are cost-effective when compared to the cost put towards efforts for acquiring new customers.
Losing customers results in loss of profit while increasing online customer retention by just 5% can lead to an increase of profits by 25% to 125%.
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