When it comes to e-Commerce, marketers often focus on driving new web site traffic and getting new customers. While these customer acquisition efforts are undoubtedly important, it’s often forgotten that it’s your existing customers who will make up 40% of your future revenue.
Retaining existing customers brings a greater ROI than acquiring new ones, and research from RJ Metrics showed that returning customers typically spend 3X more than first time shoppers. Another report from Adobe found that marketers in the U.S. and Europe need to acquire five and seven new shoppers, respectively, to match the revenue of one repeat shopper.
