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Article . 2023
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Article . 2023
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Navigating the Future of Retention Marketing: A Comprehensive Guide to Enhancing Customer Lifetime Value and Engagement

Authors: Dr Raja Roy Choudhury; Mayur Phatak; Isha Joshi;

Navigating the Future of Retention Marketing: A Comprehensive Guide to Enhancing Customer Lifetime Value and Engagement

Abstract

{"references": ["[1]\tAbdolvand, N. (2015). Activity Level as a Link between Customer Retention and Customer Lifetime Value. Iranian Journal of Management Studies.", "[2]\tBleier, A., & Eisenbeiss, M. (2022). Personalized Online Advertising Effectiveness: The Interplay of What, When, and Where. Marketing Science, 31(5), 811-828.", "[3]\tBowden, J. L. H. (2009). The process of customer engagement: A conceptual framework. Journal of marketing theory and practice, 17(1), 63-74", "[4]\tBowman, D., & Narayandas, D. (2004). Linking customer management effort to customer profitability in business markets. Journal of Marketing Research, 41(4), 433-447.", "[5]\tChaffey, D., & Ellis-Chadwick, F. (2019). Digital Marketing (8th ed.). Pearson Education, Inc.", "[6]\tFader, P. S., & Hardie, B. G. (2015). Simple probability models for computing CLV and CE. Handbook of Research on Customer Equity in Marketing, V. Kumar and Denish Shah, eds. Cheltenham, UK: Edward Elgar Publishing, 77-100.", "[7]\tGummesson, E. (2011). Total relationship marketing. Routledge..", "[8]\tGupta, S., Hanssens, D., Hardie, B., Kahn, W., Kumar, V., Lin, N., ... & Sriram, S. (2006). Modeling customer lifetime value. Journal of service research, 9(2), 139-155", "[9]\tKumar, V., & Reinartz, W. (2012). Customer Relationship Management: Concept, Strategy, and Tools (3rd ed.). Springer Gabler.", "[10]\tLemon, K. N., & Verhoef, P. C. (2016). Understanding customer experience throughout the customer journey. Journal of marketing, 80(6), 69-96.", "[11]\tLibai, B., Bolton, R., B\u00fcgel, M. S., De Ruyter, K., G\u00f6tz, O., Risselada, H., & Stephen, A. T. (2010). Customer-to-customer interactions: broadening the scope of word of mouth research. Journal of service research, 13(3), 267-282.", "[12]\tMalthouse, E. C., & Blattberg, R. C. (2005). Can we predict customer lifetime value?. Journal of interactive marketing, 19(1), 2-16.", "[13]\tSingh, S.S. and Jain, D.C. (2013). Measuring Customer Lifetime Value: Models and Analysis. INSEAD Working Paper No. 2013/27/MKT, Available at SSRN: http://dx.doi.org/10.2139/ssrn.2214860", "[14]\tVenkatesan, R., & Kumar, V. (2004). A customer lifetime value framework for customer selection and resource allocation strategy. Journal of marketing, 68(4), 106-125."]}

This research paper provides a comprehensive exploration of retention marketing strategies within the context of online consumer businesses. As the digital marketplace becomes increasingly competitive, the importance of retaining existing customers has become a critical success factor for businesses. This paper delves into the concept of retention marketing, its significance in the current market scenario, and the various strategies that businesses can employ to enhance customer loyalty and repeat business. Through an extensive review of existing literature, case studies, and analysis of potential challenges, this paper aims to provide a detailed understanding of effective retention marketing strategies and their implementation. The findings of this research could serve as a valuable resource for online consumer businesses seeking to improve customer retention and profitability.

Keywords

Engagement, Retention, http://www.journalresearchijf.com/current-issue/, Marketing Strategies, Customer Lifetime Value

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This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
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This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
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