...
Retention is Cheaper Than Acquisition
Plain and simple, customer retention costs less in time and resources than customer acquisition. Some sources report that acquisition is as much as 5x more expensive than retention. If you're an online retailer looking to grow and scale your business, focusing your marketing team on improving the customer experience in the post-purchase phase will be a more cost-effective strategy.
...
Because post-purchase emails have both significantly higher open rates and click-through rates than any other type of emails, optimizing post-purchase emails is one of the most effective ways of improving the customer post-purchase experience.
...
Happy customers will refer their friends and family to your business, so a loyalty program is not only part of a customer retention strategy, it's also part of a referral program strategy. The social proof of a personal recommendation trumps social proof on social media almost every time.
...