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Life After the Funnel: 6 Reasons why You’re Neglecting eCommerce Customer Retention

The Startup Magazine

If you want your brand reputation to soar, it’s time to step away from acquisitions and pour focus into your eCommerce customer retention strategy. Studies show that just a 5% increase in retention rates could see increased profits of 25-95%. Don’t just take our word for it. Let’s delve into life after the funnel.

Retention 132
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10 Metrics To Drive Your Annual Business Review

Startup Professionals Musings

Sales data needs to be correlated to advertising campaigns, price changes, seasonal forces, competitive actions, and other costs of sales. Customer loyalty and retention. There are three common methods for measuring customer loyalty and retention: 1) customer surveys, 2) direct feedback at point of purchase, and 3) purchase analysis.

Metrics 252
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Why Misunderstanding Startup Metrics Can Cost You Your Business

Both Sides of the Table

The key to being able to run a business that isn’t yet profitable (on operating margin) is availability of capital to finance losses and preferably at a cost that isn’t too punitive to the founders and employees. CAC is often measured incorrectly and doesn’t often doesn’t capture the true costs of acquisition. The first input is CAC.

Metrics 150
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How to Measure Ecommerce Customer Acquisition Cost (+ Tips to Reduce it)

ConversionXL

Customer acquisition cost (CAC) is an important metric for any ecommerce business. Put simply, you need a healthy customer acquisition cost for your business to succeed. It’s up to every ecommerce business to find the middle ground between investing too little in customer acquisition and spending beyond your means.

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Developing a Social Media Marketing Strategy that Builds Loyalty and Awareness

ConversionXL

Because of this, it spans two objectives: Turning customers into advocates Improving customer retention. Improve retention Improve consumer perception Sentiment, testimonials, reviews, customer support and service response time, etc. Pick out six to eight brands that operate in the same space and speak to the same audience.

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30 Entrepreneurs Share Their Goals for 2023

Hearpreneur

4- Better customer (and employee) retention. In 2023 I’ll be focusing on improving retention with our existing audience to maximize value on both ends of the relationship. In 2023 I’ll be focusing on improving retention with our existing audience to maximize value on both ends of the relationship. Photo Credit: Brian Dechesare.

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Critical Key Performance Indicators (KPIs) for Founders

Up and Running

This metric helps determine how much cash you need for operation and expansion. Net Promoter Score (NPS): measures customer loyalty and satisfaction, which is essential for customer retention and referral marketing. Customer acquisition cost (CAC): find out how much it takes to acquire a customer (e.g., Employee KPIs.

Founder 71