By Swati Sahai
MAY 2, 2018 | ASCEND CURATED ARTICLE
Customer journey analytics tools calculate churn rate in real-time for each stage of your customer journey to help you visualize points with high volume of churn. Boost your customer retention and brand loyalty strategies with these insights on churn reduction.
As Pointillist explains, “Companies typically spend most of their effort and resources on customer acquisition, even though the cost of retaining an existing customer is 5 times lower than acquiring a new one. Customer retention is a measure of how many of your customers continue to buy from you over time and are therefore loyal to your brand.”
Data is one of the biggest buzzwords in marketing right now. Every organization is aiming to collect as much data on their customers as they can to try to better understand them.
“Customer data and analytics is a deeply important part of a brand story.”