Description: The retention strategy refers to a set of plans and actions designed to keep customers engaged and loyal to a brand or business. This strategy is fundamental in the field of business intelligence, as it focuses on maximizing customer value over time. Customer retention not only involves keeping existing consumers but also fostering a lasting relationship that translates into repeat purchases and brand promotion through word of mouth. The main characteristics of a retention strategy include personalizing the customer experience, providing high-quality customer service, implementing loyalty programs, and utilizing data analytics to better understand customer needs and behaviors. In an increasingly competitive business environment, where acquiring new customers can be significantly more expensive than retaining existing ones, companies are investing more in retention strategies. This not only improves customer satisfaction but also contributes to the financial stability and sustainable growth of the company. In summary, an effective retention strategy is essential for building a loyal customer base and maximizing the long-term performance of any business.
