If you are a business owner or marketer, you should be familiar with terms such as churn, retention, and conversion rate. During the past decade, marketing and brand loyalty have become increasingly difficult since social media has given consumers a megaphone which has proved to be even more powerful than traditional marketing. One of the most successful viral campaigns is the ALS Challenge, with more than $100 million dollars raised in a 30 days period – between July 29 to August 29, 2015.
According to the Teradata 2015 Global Data-Driven Marketing survey, 38% of marketers say that their biggest 2015 challenge was improving customer acquisition and retention. Companies struggle with customer retention due to the increasingly competitive landscape. Keep reading this post