Customer Retention marketing is a tactically-driven strategy to keep relationships with customers going and increase customer interest. This strategy relies on the study of customer behavior. Here are the basic tenets of a marketer that seeks to increase customer retention:
1. Past and Current customer behavior
This is the best predictor of how customers will behave in the future. They are the characteristics marketers should most often look at. Analyzing customer tendencies and trends allows the marketer to anticipate, if not predict, the customers reaction to different situations. The marketer must take note that behavior is action oriented, not a description. For example, being a 35-year-old woman is not a behavior; its a demographic characteristic.
For example if you know from history that customer A is likely to make a purchase if presented with a discount promotion, then you might want to change your marketing tactics to include promotional selling when approaching this customer. A great deal of observation is needed if you desire to predict your customers behavior. This involves a great deal of notetaking as well as watching what reaction the...
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