Which term describes strategies focused on maintaining customer relationships?

The term that accurately describes strategies focused on maintaining customer relationships is customer retention. This concept emphasizes the importance of keeping existing customers engaged and satisfied with the products or services a company offers. Retaining customers is often more cost-effective than acquiring new ones, as it builds loyalty and encourages repeat business.

Customer retention strategies may involve personalized communication, loyalty programs, customer feedback mechanisms, and exceptional customer service. Ultimately, these tactics are aimed at fostering long-term relationships with customers, which can lead to increased customer lifetime value and advocacy for the brand.

In contrast, product differentiation focuses on distinguishing a product from competitors to attract customers rather than maintaining their loyalty. Influencer marketing targets new audiences through influential figures rather than emphasizing existing customer relationships. A/B testing is a method for evaluating marketing strategies or product features by comparing two versions, without direct relevance to relationship building.