The Power of Customer Retention During Uncertain Times
Companies are making changes to their marketing and engagement strategy in an effort to improve ROI and retain their competitive edge. In OneSignal’s 2023 State of Messaging Report, companies we surveyed reported that the recent economic downturn has caused them to focus more on reducing marketing and product spending.
Today, the average brand spends 222% more to acquire a single customer than it did a decade earlier, yet most apps have a 10-day retention rate of less than 10%. Although most companies spend more on user acquisition than retention, loyal customers cost less to serve, spend more with companies they trust, and are less likely to make a switch during a downturn.
In this session with Josh Wetzel, OneSignal Chief Revenue Officer, learn how successful apps have increased their user lifetime value in uncertain economic times by focusing on user retention, loyalty, and engagement alongside acquisition.