Relationships are the secret to customer retention for 2024

In the dynamic scenario of online commerce, retaining the customer base gained is a priority for brands. I highlight here the connection between omnichannel strategies, personalization, service, and, above all, the relevance of performance marketing in this context.

Performance marketing goes beyond its function as a means; acts as a guide for intelligent and profitable investments. We understand that it is more cost-effective to retain existing customers than to acquire new ones. Therefore, performance marketing plays a crucial role, offering profitability-focused targeting and valuable insights into the customer base.

Increasing repurchase is not just a goal; it is a natural consequence of an effective retention strategy. However, it is necessary to establish solid key performance indicators (KPIs), such as repurchase rate, average interval between purchases, in addition to understanding the complete trajectory of consumption and engagement with your brand. KPIs not only measure success but also provide precious data for more focused decisions.

When performance marketing is understood as a key part of the brand’s retention strategy, a new perspective opens up to this data provided by customers. In addition to a direct cost reduction that can be brought to a company, the integration of strategies brings data as a central focus of decision making. This is the point at which technology starts to be used in favor of branding and thus works cohesively across the brands’ full funnel strategy.

Another essential metric for understanding the customer’s purchasing journey over time is Lifetime Value (LTV). Understanding the value of a customer during the period of their relationship with the brand is important to adjust strategies and ensure a continuous experience that keeps customers engaged.

Especially at a time when people are looking for experiences, an effective example of building brand relationships is personalizing the customer experience. By using past purchase data, you can offer personalized recommendations, exclusive discounts, and even personalized thank you messages. A customer who feels recognized and valued is more likely to return and share that positive experience with others.

According to a study by Target Expectations for 2024 presented by the company recently, 60% of respondents have already purchased products or services that they saw in personalized offers based on their search history and previous purchases. Actions must focus on building solid relationships, going beyond isolated transactions.

Furthermore, omnichannel integration plays an equally important role in customer retention. Allowing consumers to move seamlessly between online and offline channels, with consistent information and continuous experiences, contributes significantly to building a unified and satisfactory purchasing journey.

In short, the intelligent integration of loyalty strategies, driven by performance marketing, is the key to building lasting relationships and maximizing customer loyalty. Investing in experiences, understanding KPIs and using data strategically are fundamental to a successful journey in the e-commerce universe.

*Adriana Campos graduated from ESPM in Advertising with an emphasis on Marketing, and in Big Data and Creativity and Leadership from Stanford University, is the founder and CEO of Adtailone of the main full-service digital performance marketing agencies in Brazil.