With vastly expanded product choices for consumers today, retailers must focus on building solid customer relationships by delivering personalised experiences. If they do this, they’ll lock in loyalty while boosting the bottom line. With contributions from top UK retailers, find out how to become customer obsessed this 2023.Download
Head of Data Science Growth & Personalisation at M&S
Marketing Director at Farfetch
Head of Brand Strategy & Insights at Dr. Martens
Customer-obsessed organisations are winning big, reporting 2.5 times higher revenue growth and 2.2 times better customer retention than average players.
Customer retention has become pivotal for retailers, especially as attracting a new customer costs seven times as much as retaining an existing one.
Successful brands are using complimentary experiences and VIP days to retain their high-value customers, but accurate insight is needed to be able to determine who these customers are.
Investing in the customer experience pays off – CX leaders more than doubled the revenue growth of “CX laggards”, while their revenues rebounded from the pandemic faster than their competitors.