Customer retention: 35 data-backed approaches

Customer Bliss

I talk often about customer experience , but recently I’ve heard from some followers that they’d like a bit more on customer retention. The first thing to understand about customer retention is that obviously it comes straight from customer experience.

Technology Based Solutions to Enhance Customer Retention Strategies

TechSee

Customer churn in the age of information is a fact of life for every business in every industry. Customers have unprecedented access to data, enabling easy comparisons of alternatives, as well as hassle-free provider changes with a simple click of a button. Customer churn formula.

Customer retention strategy: Is it too late?

Customer Bliss

One concept I get asked about a lot is customer retention strategy. Business tends to grow as a result of two factors: Your customer acquisition strategy. Your customer retention strategy. This all leads to one place: you need a customer retention strategy.

15 Customer Retention Strategies for Long-Term Customer Loyalty

Comm100

Your customer retention is super important to your bottom line—after all, customer loyalty is well-known for being more valuable than customer acquisition. A good blog communicates to customers that you care about solving the problems in their industry.

Using Monetized NPS® to Growth Hack Customer Retention

CustomerGauge

Peter Drucker, a legendary business icon, once famously wrote that the purpose of any business is to “create and keep a customer.” customer retention rates of most companies aren’t great). Blog Featured Growth Hacking NPS customer retention growth

How to Boost Customer Retention with Unified Customer Support

Kayako

When you give your customers exceptional support, they are 4 times more likely to reward you with their loyalty. Because helpdesks encourage your staff to see customers as faceless support tickets. . But customers are people, just like you and me. Your customers email you.

How to Calculate Customer Retention Rate

Customers That Stick

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Build Revenue with These Proven Customer Retention Strategies

Joe Rawlinson

Take a look at your most loyal customers. Forbes reports that most businesses find 20 percent of their most loyal customers actually make up 80 percent of their sales. Studies also back up the idea that retaining customers can positively impact your bottom line.

5 Ways to Boost Customer Retention with Social Media

ReviewTrackers

Getting customers to say loyal to your business takes dedication. Fortunately, social media allows you a direct way to strengthen connections with your fans and repair your reputation with customers who may have had a less than stellar experience. Listen to customers on social media.

Customer Retention Field Guide: 18 Tactics That Keep Customers & Keep Them Happy

Solvvy

The post Customer Retention Field Guide: 18 Tactics That Keep Customers & Keep Them Happy appeared first on Solvvy

4 Tips for Mastering Customer Retention Like a Shark

Smarter CX

a customer experience podcast series, hosts and CX experts Joey Coleman and Dan Gingiss share insights into how to create an incredible first experience that will increase customer retention as well as revenue. Empathize with your customer.

One Millimeter Mindset Customer Retention Blog Posts 2017

Verint

One Millimeter Mindset customer retention moves you and your organization one millimeter outside your current comfort level. One of the biggest differences has to do with how we acquire and then retain customers. Customer Unretention Syndrome results from 4 Sales Achilles Heels.

Four Steps to Increase Customer Retention

CSM Magazine

In these days of fierce competition, it’s crucial to do everything that you can to protect your customer base. The ability to retain customers is based on how well your internal operations run. Do you want better customer retention? Want better customer retention?

Six customer retention strategies that will grow your business

Bold360

For the marketers – 66 percent of them – the programs were seen as a good way for customers to show loyalty to the brand. Seventy-three percent of the consumers, however, flipped the perception, looking at the programs as a great way for companies to show loyalty to customers. The study , reported in the Harvard Business Review, says a lot about how customer retention strategies can go awry when customer-centric principles get turned inside out.

A ‘Fresh’ Look At Customer Retention and Loyalty (Part I)

Maz Iqbal

Especially so when we get to customer-centricity, customer experience, customer loyalty… Whilst some folks can tell that Trump is talking nonsense, in the … Continue reading "A ‘Fresh’ Look At Customer Retention and Loyalty (Part I)". Customer Loyalty Uncategorized customer loyalty customer retention employee loyalty loyalty centred business strategic approach to loyalty

A ‘Fresh’ Look At Customer Retention and Loyalty (Part I)

Maz Iqbal

Especially so when we get to customer-centricity, customer experience, customer loyalty… Whilst some folks can tell that Trump is talking nonsense, in the … Continue reading "A ‘Fresh’ Look At Customer Retention and Loyalty (Part I)". Customer Loyalty Uncategorized customer loyalty customer retention employee loyalty loyalty centred business strategic approach to loyalty

Customer Retention & The Leaky Bucket

MaritzCX

Arjun Sen, president and founder, ZenMango offered some great advice to companies during the online Engage eSummit. Read this blog to learn more

Customer Retention & The Leaky Bucket

MaritzCX

Arjun Sen, president and founder, ZenMango offered some great advice to companies during the online Engage eSummit. Read this blog to learn more

Customer Retention & The Leaky Bucket

MaritzCX

Arjun Sen, president and founder, ZenMango offered some great advice to companies during the online Engage eSummit. Read this blog to learn more

Video: Voice of the Customer & Customer Retention

MaritzCX

In two new videos, industry experts highlight the importance of not only listening to customers via a formal voice of the customer (VOC) program , but also increasing customer retention efforts

Video: Voice of the Customer & Customer Retention

MaritzCX

In two new videos, industry experts highlight the importance of not only listening to customers via a formal voice of the customer (VOC) program , but also increasing customer retention efforts

Voice of the Customer & Customer Retention

MaritzCX

In two new videos, industry experts highlight the importance of not only listening to customers via a formal voice of the customer (VOC) program , but also increasing customer retention efforts

A ‘Fresh’ Look at Customer Retention and Loyalty (Part II)

Maz Iqbal

The key points as I understand them are: You cannot have customer loyalty without cultivating employee loyalty and investor loyalty. So debates about which comes first (customers, employees, investors) shows that folks lack a fundamental grasp of that which we … Continue reading "A ‘Fresh’ Look at Customer Retention and Loyalty (Part II)". Let’s recap Part I of this conversation.

Why customer retention deserves your attention

Quadient

Why customer retention deserves your attention. In a study by Sitecore and Forbes Insights, the top marketing priority for 58% of respondents was attracting new customers. 40% cited their top priority as turning current customers into customers for life. . What the study didn’t indicate was that those 58% who are focused on attracting new customers are making a mistake

Study 40

4 Reasons Why Customer Retention Matters to Your Customer Acquisition Efforts

Bob Hayes

Business growth depends on acquiring new customers and keeping them around for a long time. Yet businesses are over 2x more likely to focus on acquisition efforts than they are retention efforts. Here are four reasons why customer retention is important to customer acquisition.

A ‘Fresh’ Look at Customer Retention and Loyalty (Part II)

Maz Iqbal

The key points as I understand them are: You cannot have customer loyalty without cultivating employee loyalty and investor loyalty. So debates about which comes first (customers, employees, investors) shows that folks lack a fundamental grasp of that which we … Continue reading "A ‘Fresh’ Look at Customer Retention and Loyalty (Part II)". Let’s recap Part I of this conversation.

Can proactive customer retention efforts backfire?

Arie Goldshlager

I found this note on “When It Comes To Retaining Your Customers, Sometimes It’s Best To Leave Them Alone” very thought-provoking. Please note particularly: The research involved 65,000 customers of a South American wireless communications firm. As a result, only 6% of the customers who were not offered a plan suggestion left the supplier within the first three months after the program was launched.

8 Reasons why customer retention is more important than acquisition

Andrew Mcfarland

Guest Post Feedback Loyalty Profit Reputation Retention WOM(Guest post written by Mark Johnson, a marketing consultant with a degree in business and a passion for helping companies achieve their ambitions.)

The Secrets of Customer Retention & Communication in E-Commerce

Amity

Providing an excellent customer experience is one of the most important ways to improve retention and profitability in any business. A smart Customer Success strategy should always be set as a priority for any business in today’s market. Give Customers Value for Money.

Should companies focus on customer acquisition or customer retention?

Arie Goldshlager

The choice between customer acquisition and retention is a false choice. I recommend instead employing a diversified and balance customer lifecycle management approach with customer acquisition, onboarding, development and retention elements.

Customer Retention – Let’s start at the very beginning

Ian Williams

The customer experience ‘movement’ began in earnest around 15 years ago, with the first books on the subject being published shortly after the turn of the millennium. This is not to say that many of the various aspects of business associated with customer experience, such as loyalty and retention, were not already being practiced. This raises questions as to why marketing did not naturally evolve into what customer experience is today.

4 Tips to Boost Conversions and Customer Retention on Cyber Monday

PeopleMetrics

As recent high-profile data breaches like those of super brands Target and Neiman Marcus have shown, data security has become an important variable in the formula for customer retention. Enhance Your Site with Customer Reviews and Testimonials.

24 Experts Reveal Their Top Customer Retention Strategies For B2C Brands

Storyminers

There always seems to be a new product, service, or experience within reach of a brand’s current customer. And as we all know, replacing an existing customer costs 7 times more than retaining them. So how do you ensure your brand is retaining its precious customer base? We decided to ask experts one question: What is your most effective customer retention strategy for B2C brands? . VP of Customer Experience, Compellon. Stop trying to “satisfy” customers.

B2C 116

Customer Retention Strategies: How to Keep Your Customers

LiveChat

Have you ever considered that the work, resources and manpower you put toward acquiring new customers could be better spent on keeping your current customers through customer retention? What is customer retention. Why is customer retention so important.

Why customer retention is about more than just points

Currency Alliance

Apple is often cited as having the most loyal customers worldwide. But what drives their customer retention? Clearly Apple is an extreme example of customer loyalty. To call some of their customers loyal is somewhat of an understatement. However as a brand it works as a reminder that loyalty points alone do not drive customer loyalty or improve customer retention.

3 Ways to Boost Your Customer Retention Rate With Service

Win the Customer

Gartner research shows that by 2018, 70 percent of business-to-business ecommerce sites will offer customers personalized features, and sites effectively using personalization will outsell competitors by 30 percent. Improve Your Customer Experience. Track Customer Satisfaction.

Why customer retention is about more than just points

Currency Alliance

Apple is often cited as having the most loyal customers worldwide. But what drives their customer retention? Clearly Apple is an extreme example of customer loyalty. To call some of their customers loyal is somewhat of an understatement. However as a brand it works as a reminder that loyalty points alone do not drive customer loyalty or improve customer retention.

The keys to customer retention

Service Untitled

There are two main reasons an organization is likely to lose customers; the competition has a better offer or the customer is unhappy. Even though a company might offer the best price around town, if service is shoddy the customer is likely to leave.

Listening to Customers Tells You Everything You Need to Know… - Transforming the Customer Experience

Kristina Evey

LISTEN to your Customers. We all know how to do it… but few know how to do it well … and it could be driving your customers away if you don’t do it well. Listen well and you’ll increase sales and customer loyalty. LISTEN to the customer.

Customer V Owner – Who wins? You decide! (in other words, is the customer always right?!)

ijgolding

I must confirm that the focus of my blog is not switching from Customer Experience to travel! Firstly, the customer gave the restaurant a rating of three – higher than I would have expected in relation to the content of the review. The post Customer V Owner – Who wins?