In today’s unpredictable market, is customer retention possible?

customer

Research has shown that it costs 5 to 25 times more for businesses to acquire new customers than to retain existing ones. Consequently, in today’s turbulent business landscape, it is essential for businesses to strategise ways to nurture customer relationships and retain the right customers if they want to succeed.

The Big Leap Roadshow, an event jointly organised by e27 and CleverTap, brings together hundreds of growth leaders, experts, investors, and entrepreneurs from Southeast Asia to exchange their ideas and insights. The collaborative event centres around actionable strategies and best practices for building strong customer relationships, reducing churn, and maximising customer lifetime value.

Following the success in Indonesia, Singapore, Malaysia, and Vietnam, the highly anticipated “Retention Playbook Philippines: Orchestrating Campaigns for Different Customer Segments” is coming to the Philippines on March 8th, 2023. This event is an absolute must-attend for businesses looking to gain an edge in today’s competitive landscape. Industry experts will lead discussions on the latest trends and insights in customer segmentation, which is the trending topic of focus at the event. Attendees will gain valuable insights and learn about the best approaches to segment and retain different groups of customers for long-term success. This game-changing event will make a significant difference to your business.

Also read: Why your startup deserves to take part in the 2023 TOP100

The Big Leap Roadshow Philippines features a panel of key insiders and industry leaders, including Daryll Santillan, CMO of Booky, JC Medina, Head of Innovation of PalawanPay, Victor Lim, Co-founder and CEO of Kraver’s, Marc-Antoine Hager, SEA Regional VP for Sales at CleverTap, and Bern Pangilinan, Business Development Manager of CleverTap.

These industry leaders offer a unique opportunity for attendees to learn about insights and strategies that can help grow their customer base while keeping existing customers happy. Industry experts will share their real-life experiences and insights on customer relationship management techniques such as segmentation, personalisation, loyalty programs, and more through engaging presentations. In addition, attendees will have access to a wealth of valuable resources including case studies from successful brand campaigns and exclusive networking opportunities to help boost their professional profiles.

The Big Leap Roadshow Manila’s focus on customer segmentation

Customer segmentation is a critical process for businesses to better understand their customers’ needs and preferences, leading to enhanced satisfaction. Segmentation can be done by demographics, psychographics, or behaviour patterns. It helps develop targeted marketing strategies that can reduce promotional costs, identify opportunities within existing customer bases, and prioritise important relationships for upselling and cross-selling instead of solely relying on acquiring new customers. Personalisation is becoming increasingly important as customers have become more demanding and show greater preferences for customised products and services.

Following the customer segmentation process, businesses must learn to utilise data and insights about each segment’s behaviour and preferences to help them make informed decisions about which products/services should be offered at what price points, and even the channels to engage customers with — which make all the differences when it comes down to driving sales numbers up.

Also read: The first 10 frontrunners closer to competing in the 2023 TOP100

For instance, unlike previous generations, Generation Z and Millennials can best be reached via social media networking sites such as Instagram and Facebook, video platforms such as YouTube and TikTok, and mobile applications. This is only one of the many examples of how one’s marketing approach can vary depending on the customer segment you intend to target.

Moreover, customised promotions can capture more conversion opportunities and increase satisfaction levels. Other retention strategies include excellent service quality, loyalty programs, automated messages, referral campaigns, and regular social media engagement. Positive experiences among current customers generate word-of-mouth, reducing the cost of paid advertisements and generating more organic sales.

These strategies help businesses in two folds: by cultivating a positive experience for the existing customer base while attracting new ones through word-of-mouth generated by happy consumers. Consequently, businesses can reduce the cost of paid advertisements and generate more sales organically through earned promotional coverage. 

Why it is imperative for businesses to learn from the best

Attending the Retention Playbook Philippines is a great way to stay up-to-date on the latest trends in customer retention. In addition, entrepreneurs will be equipped with tips and tools to implement the process and track and measure the successes of their retention campaigns through the insights that will be shared by key industry insiders. 

Retention Playbook Philippines also offers all participants a slew of benefits such as learning from industry experts, accessing case studies of successful campaigns, and ample networking opportunities with other businesses that they may want to form strategic partnerships with in the future. Furthermore, interactive sessions and activities enable participants to co-create the experience, share and discuss their real business cases, and put learned strategies into practice.

Also read: Get to know the first two sponsors who will be at Echelon 2023

By joining the event, attendees will be equipped with the ability to directly and personally engage with key insiders that enable genuine connections and potential partnerships, all while participating in fun team-building activities. 

Learn from industry experts across various sectors about how they have created magnetic experiences to grow customer retention, increase lifetime value, and go from good to great.

To sign up for the event, click here.

The post In today’s unpredictable market, is customer retention possible? appeared first on e27.


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