3 Ways to Keep Your Most Valuable Customers Engaged When Consumer Confidence is Low
*This article is a contribution from Fiona Stevens, head of marketing at LoyaltyLion. It’s part of a series that explores the impact the coronavirus crisis is having on the world of ecommerce. Here are additional resources to help you navigate your marketing strategy during this time.
When crisis hits and consumer confidence is low, cash flow and stock levels can become all-encompassing concerns. Ecommerce merchants are left with two options. The first is to keep plowing money into acquisition strategies in the hope that mud might still stick somewhere. The second is to double down and find cost-effective ways to retain those customers that you already have relationships with.
Across the globe, COVID-19 has undoubtedly left us in a state of crisis. Yet this particular dark cloud has a silver lining. Despite social distancing and isolation, relationships are strengthening and communities are forming—from the gyms that are hosting free online workout classes, to the neighbors who are offering to go to the store for those who cannot get out and about.