The 4 R's: Retention, Return, Retarget, Referral

2022-06-13

brand identity Building software at the intersection of Marketing and Technology is always a tricky conversation with non-technical stakeholders. With the correct approach, we connect to business KPI's and ensure that the software or web solution accommodates the business goals.

The 4 R's

Retention - Customer loyalty, brand recognition and community are primary indicators that a brand is providing a quality service or product. Its hard enough to get new customers, focusing on keeping existing ones and nurturing their growth with your brand is a key for success.

Return - For customers to return, there must be incentives, awareness and urgency. Leveraging technology solutions to encourage return business is critical.

Retarget - Retargeting is a strong strategy, especially for ecommerce. Focusing on abandoned carts, or suggested related products, or coupons to be used on successive visits are simple, measurable ways to retarget and recapture customers that may have otherwise disappeared.

Referral - In business, the referral is the pinnacle of customer loyalty and a successful product or service offering, so good, that it is worth a referral to a customers personal network. Word of mouth, Ratings and Reviews, Testimonials, referral programs, ambassador and influencer programs are all ways to leverage technology with maximum analytics to measure.

At Cause of a Kind we take a metrics first approach to benchmarking and referencing success against the business KPI's to demonstrate the power of software and strategy as they impact the business.