Analyst Reports, Commerce

2023 Customer Acquisition and Retention Optimization Guide

eBook Image Header: Customer Acquisition and Retention - An Optimization Guide in 2023"

In the fast-paced world of retail, customer acquisition and retention have become crucial factors for success. This has become even more critical with the current economic outlook and the soaring costs of acquiring new customers.

To triumph over these dual challenges, retailers must gain a deep understanding of customer intent and preferences. It’s essential to accurately interpret what customers want to learn, discover, or purchase, and then seamlessly match their needs with the desired products or information.

Delve into this comprehensive guide from IMRG to explore:

  • The role of customer acquisition and retention in driving retail success amid the current economic outlook and increasing acquisition costs.
  • The importance of understanding customer intent and preferences to meet their needs seamlessly.
  • How Lucidworks Fusion AI revolutionizes digital experiences for leading brands, connecting people with the products and information they seek.
Customer acquisition and retention are pivotal to retail success and never so more than with the current economic outlook and rocketing customer acquisition costs.
To successfully navigate these dual challenges, retailers need to understand customer intent and correctly interpret what their customers wish to learn, discover, or purchase, and then successfully match the need with the desired product or information.
The theory is simple, but delivery is complex. Understanding customer intent and preferences, a lack of data, siloed systems and merchandising and search platforms that frequently are not state of the art, are all significant challenges. Read on to discover what ‘great’ should and can look like, when supported by class leading technology.

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