Retention marketing is a strategy that markets to existing customers. It focuses on bringing back customers who have already done business with a brand and keeping customers who are already connected to a brand through a recurring subscription or membership.
The goals of retention marketing aren’t to increase the number of customers but rather to:
Increase customer return rates and bring past customers back into the buying cycle.
Decrease customer churn rates and keep existing customers in the buying cycle.
Drive purchase frequency and get customers to enter the buying cycle more often.