Customer engagement is critical to customer retention
Your ongoing customer engagement strategy is the foundation of your long-term customer retention and referral strategy. Any customer who will be happy to make a second purchase from you will be comfortable enough to refer someone to you.
In this way, your existing customers can be your cheapest lead generation tools. A word of mouth referral is usually a qualified lead who realises that they have an issue. Not only that, someone has informed them that you are the answer to his or her problems.
Viewed through this prism, you realise that customer experience and the journey is both a retention strategy and a marketing strategy. With this in mind, any money, time or services that you invest in your existing customers, is money better spent than any other marketing channel.