Retaining customers contributes significantly to a company’s revenue stream. Over time, these customers can create a stable income and will earn you loyal customers who will become brand advocates. As advocates, they will be able to influence others to also support your business or brand. A str...
Customer acquisition is the process of acquiring new customers, which is typically a lot more expensive than retaining the customers you already have. Customer retention strategies are also very different from customer acquisition strategies because the goal is to keep existing customers. However, focusi...
Retention goals can be high, but specific goals are ultimately up to the leadership of each business. The closer your retention is to 100%, the more dominant you are in your market. When retaining customers, certain inevitabilities about the business landscape—like competition and consumer ...
Once you know how to discover churn, then you can identify the reasons behind it. We tell our customers all the time, start somewhere. One small action is better than no action and it will begin to retain customers, allowing you to focus on the next action.” In this guide to SaaS B2...
It’s crucial to understand your customers’ view of your brand and the moments that matter most to them. A consistent, day-to-day delivery on your brand promise is crucial to retaining customers, cementing brand loyalty, and growing your base. ...
Every business makes mistakes, but the key to retaining customers is acknowledging mistakes and correcting them when they happen. Loyal customers expect a positive experience from your brand every time they interact with it. They want to feel like you value them as much — if not more — than...
Loyal customers are more valuable than new customers: Retaining customers is much more cost-effective than acquiring new ones. Merely a 5-percent increase in customer retention can boost profits by 25 to 95 percent. Loyal customers are easier to sell to: A repeat customer is more likely to bu...
Rather, the process of retaining customers (and keeping them satisfied) has a direct impact on your business’s bottom line. So, while many businesses are not tracking their retention or churn rate, you really shouldn’t follow their lead. ...
Now, for those customers who haven’t left (yet), you need to think about your strategies for retention and loyalty. Retaining customers comes with its own challenges, and to effectively improve retention, you need to define a process to manage renewals. This way, your team will be more ef...
Here are some strategies for retaining customers: Keep your customers happy: Part of customer happiness is keeping your customers excited to use your product. Offer existing customers exclusive deals and sneak peeks at new products, and check in with them often. Build customer loyalty: You can bu...