What Is Retention Marketing and How Can Mobile Marketers Leverage It?

Marketing has always given importance to the acquisition of new customers but one of the underrated goals of marketing is user retention. Having few loyal customers is more beneficial than acquiring high numbers of new users, especially during stressful economic times. Retention report can give you a clear-cut idea about the behavior of your customers, including their affiliation with your business, feedback on ongoing campaigns, and satisfaction levels. This begs the question – what is retention marketing? It refers to the strategies and techniques that help to improve the relationship between a business and its customers through personalized messaging and hyper-targeted ad campaigns. In this digital era, retention marketing has acquired a growing momentum promoting businesses to incorporate various channels like SMS, email, and social media into their marketing mix. In what follows, we will discuss the benefits, types, and strategies of retention marketing that you can try for mobile success. 

Benefits Of Retention Marketing

1. Cost Effective – It does not cost you the same amount that is used for the acquisition of new customers. For new customers, you need new leads which are hard to find, but here you already have customers whose purchasing behavior needs to be altered and transformed into lifelong customers. Since we have the details of the customers through previous interactions it is not difficult to reach out to them.
2. Improvement in Marketing Metrics – Tracking historical user behavior allows you to derive insights about purchase trends, customer lifecycle, and peaks of user feedback. Altering the marketing strategies according to past trends helps to improve the conversion rate.
3. Building Loyalty and Long-Term Relationship – Retention helps in building a loyal customer community for your business. There are also high chances to sell additional products and services to trusted customers to increase the depth of their engagement with the brand.
4. Retention Reduces Churn Rate – The churn rate refers to the customers who have stopped using your product or service after a certain period. Retention marketing helps in decreasing the churn rate by ensuring that regular feedback is received from the clients and it is eventually implemented without delays. 

Top 4 Types Of Retention Marketing Campaigns

1. SMS Marketing – This is a simple method that uses SMS/text messages to follow up with customers and request reviews regarding the products and services that they got from your business. You can also use it to seek feedback about website upgrades, offer loyalty discounts, and distribute festive coupons. 
2. Email Marketing – You can personalize email campaigns using the data you have collected over the past interactions of users, through multiple marketing channels. Emails can be used to inform about ongoing sales, product launches, new season offers, loyalty programs, etc.
3. Social Media – Platforms like X, Facebook, and Instagram offer you a wide variety of customer base, who may have considered, or heard about your product or services previously. Effective utilization of social media can transform these leads into loyal lifelong customers.
4. Mobile-Targeted Ads – Push notifications, banner ads, interactive videos, and other such content forms can easily slide into the purview of users without annoying them. Such campaigns allow you to tap into the users that bear high purchase intent or are indecisively stuck at the comparison stage of the funnel. 

Go-to Strategies For Creating Retention Marketing Plans

1. Ask For Feedback – Asking for feedback from customers will create a sense of value and trust within them. It is inevitable for a business to improve the quality of its products and services and to make them pleasing enough to the target audience. And what could be a better source of feedback than the existing clients? You should also remember to deliver fast replies to the feedback and queries from the customer side, in the absence of which you would end up agitating them. 
2. Run Loyalty Programs – You can run loyalty programs once in a while and reward those customers who have been staying with you for a long period. Rewarding them will help in retaining them. Offer a special discount to those who introduce new customers to your business to improve referral rates.
3. Ask For Their Opinions – Before introducing a new product/service or making an improvement in the existing one, make sure to ask your customers for their valuable opinions. They can offer you insights that a person from the side of your business might not be able to share. 

Strategies and tacts aside, it is important to keep in mind that effective retention marketing campaigns need an equally equipped technology partner. An all-encompassing tool like Trackier Mobile Marketing Platform can make your work simple and aid you through the journey of crafting compelling mobile campaigns. Trackier’s MMP can help you track the entire user cycle from the source of acquisition to the event of uninstall, thereby giving you a bird’s eye view of the mobile campaign.