Retailers spend billions on customer acquisition, but then spend very little time or money on the next step: getting customers to stick around. Most retailers have become extremely adept at getting their messages and promotions in front of prospects. But even when they succeed in acquiring a new customer, that person usually only makes up to two purchases per year. That equates to billions of dollars spent for very little long-term value.
Teavana
Greg Alvo is the CEO of Ordergroove, a company that helps brands and omnichannel retailers practice and achieve relationship commerce, shifting consumer interactions from one-and-done transactions to ongoing, highly profitable relationships.
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