UAE business executives focus on customer retention
06 Dec 2023
Participants at the venue.
Inayat-ur-Rahman, Business Editor
Forward-thinking businesses worldwide, particularly in highly digitalized economies like the UAE, are subscribing to retention-led growth. It’s a digital-first approach that emphasizes retaining customers with the same determination as acquiring new ones by harnessing data, deriving
insights, personalizing customer engagement, driving repeat purchases, and fostering loyalty. The recently concluded EngageMint Dubai saw CXOs, CMOs, marketers, and executives of leading organizations discuss customer retention and bring varied, nuanced, sector-specific perspectives.
Mohamed Sayed Abd Elsalam, Group Head of CRM, Loyalty, Partnerships and Customer Analytics at MAGRABi, an eyewear retail chain, said: “MAGRABi streamlines retail operations by syncing in-store profiles with online signups, thus achieving a seamless visibility of offline purchases online.”
Elsalam belongs to a growing base of executives who are devising experience-oriented omnichannel retail strategies with marketing technologies (MarTech) as the centrepiece. WebEngage, a leading marketing automation company and the host of EngageMint, said that brands integrating offline and online channels are geared toward optimizing their marketing efforts and tailoring them to the unique expectations of each customer.
Several studies have established that such personalized engagement often translates to a good customer experience, which, in turn, helps achieve higher retention. In light of growing acquisition costs globally and dwindling revenues, retention is being viewed as a sustainable route to profitability.