Which step in the customer life cycle focuses on engaging an existing customer to keep them?

The focus of the retention stage in the customer life cycle is to engage existing customers effectively to maintain their ongoing relationship with the business. This is crucial because retaining customers is often more cost-effective than acquiring new ones. In this stage, businesses implement strategies to enhance customer satisfaction, provide exceptional service, and foster loyalty through engagement initiatives such as personalized communication, loyalty programs, and understanding customer needs.

By prioritizing retention, companies can increase the lifetime value of their customers. When customers feel valued and connected to a brand, they are more likely to continue making purchases and recommend the business to others, which further supports the growth and sustainability of the company. Engaging existing customers not only helps in keeping them satisfied but also can turn them into advocates for the brand, which directly ties into increasing overall business success and market presence.