It is 6x cheaper to keep an old customer than it is to win a new one. Despite this, the average DTC brand devotes 80% of their marketing spend to new customer acquisition whilst stores are haemorrhaging retained revenue through high churn and inflexible subscriptions models.
Why is this? And what can be done to solve the retention rubix cube? To find out, we assembled an all-star cast of eCommerce experts - including Olipop’s Eli Weiss, Maude’s Éva Goicochea, Bryony MacLaren of Huel and Hamid Saify from Liquid Death - to myth bust DTC retention.
We cover the state of retention within the eCommerce industry today, and break down lifetime value (LTV) into its component parts, to look at the key inputs and outputs that make up a top retention strategy.