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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. Do certain types of posts generate more likes, comments, shares, leads, and conversions than others?

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The 4 Phases For Developing A Customer Retention Strategy

ConversionXL

Has your company’s customer retention rate increased, decreased or remained status quo over the past five years? Have you outlined and initiated a formal customer retention strategy? In a study by Harvard Business School , it was found that increasing customer retention by even 5% can increase profits between 25-95%.

Retention 115
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How to Track and Improve Ecommerce Customer Acquisition Effectiveness

ConversionXL

There’s more to ecommerce customer acquisition than increasing checkout conversion rates. By meeting buyers’ post-purchase needs , you’ll improve customer retention. Where marketing drives brand awareness, customer acquisition drives conversions and sales to generate revenue. The marketing cost for the campaign totaled $122.50.

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The Expert Guide to Creating a Marketing Growth Strategy

ConversionXL

It outlines four major growth strategies: market penetration , market development , product development , and diversification. Market development. Market development involves taking existing products into new markets. Product development. During product development, test activities like: R&D.

Marketing 115
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How to Master Customer Value Optimization

ConversionXL

Meaning: T = Traffic CR = Conversion Rate AOV = Average Order Value G = Growth. Meaning: C = Customers (traffic x conversion rate) CLV = Customer revenue – (CAC + cost of serving that customer) CAC = Customer Acquisition Cost G = Growth. Customer retention rate; New customer stickiness. Customer retention rate.

Customer 132
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Acquire New Users by Adding Growth Hacking to your Marketing Strategy

ConversionXL

It’s why Canva can call itself a multibillion-dollar platform and how ConvertKit pulled itself up to compete with goliaths like MailChimp and Campaign Monitor. Where campaigns to build brand awareness and generate top-of-funnel sales drive traditional marketing, data across the entire customer lifecycle drives growth hacking in marketing.

Retention 113
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How to Increase eCommerce Sales — Growth Tips from Industry Experts

Up and Running

Think about it — your customers will likely showcase your products to their friends and family, and your brand name will come up in conversations and recommendations. It will not only benefit customers but help cut costs on unnecessary ad spending or marketing campaigns that simply don’t connect with your audience.

eCommerce 152