Customer acquisition is the process you go through to gain new customers. It’s how you persuade people to purchase your products or services.
Are you doing enough to increase your customer acquisition rates? In this article, we provide your definitive guide to customer acquisition.
You’ll learn some advanced strategies for acquiring, and keeping, new customers. Continue reading “Your Definitive Guide To Customer Acquisition”
A lost customer is painful for your business – both for your bottom line and your ego.
The importance of customer retention isn’t to be taken lightly. That’s why, in this article, we take a look at how to use exit interviews and surveys to improve customer retention.
You may be wondering, “What’s the purpose? After all, they’ve already left my company?”
The purpose of conducting exit interviews and sending surveys is to find out what you did wrong, why the customer left the business, and how you can improve so you keep more of your current customer base.
So, let’s get to it.
According to Score, the following can be said about an unhappy customer:
Those are some heavy prices to pay for lost customers. Now, wouldn’t it be nice to know why they are leaving and what you could do differently in the future to prevent such a loss?
Continue reading “How To Use Exit Interviews and Surveys To Improve Customer Retention”
Do you know the value of loyal customers? Have you ever created a strategy built around keeping those customers while maintaining and building your relationship with them? Have you explored a customer retention strategy?
If not, we encourage you to do so. Retaining your current customer base is often referred to as the low-hanging fruit. What do we mean by this?
The fruit that hangs low is easily reachable, and it requires minimal effort to pick it. The same can be said for your current customers. They can be won or persuaded to stick around with little effort. Now, that doesn’t mean no effort.
Because you have to invest a little to get a lot, and we want to help you with your strategy, we’re going to look at customer retention stats, a study and best practices for 2016.
To drive home the importance of customer retention, here’s a list of stats:
Continue reading “Customer Retention Stats, Studies & Best Practices For 2016”
You probably already know that it costs more to acquire a new customer than it does to keep a current one. That’s why this article is so important.
When you are working to gain new customers, you want to make sure you are maximizing your dollars and doing everything right.
So, to help you be as efficient as possible when trying to attract new customers, we’re going to discuss seven tools to include in your customer acquisition plan.
#1: Set Your Goals
Author and motivational speaker Zig Ziglar said, “A goal properly set is halfway reached.”
Your customer acquisition plan is futile if you haven’t set your goals. It’s like walking in the dark while trying to read.
Your first tool is goal-setting. It will not only shape your customer acquisition plan, but it will also shape the people you hire and the lead generation tactics you set into motion.
Here are some possible goals you might set when it comes to customer acquisition: Continue reading “7 Tools To Include In Your Customer Acquisition Plan”
Did you know that it is seven times as expensive to acquire a new customer than it is for you to retain an existing one? Yet, companies everywhere focus more on acquisition than they do on retention.
What’s more, 63% of businesses feel that customer acquisition is a more important goal.
So, even though it’s more cost effective to improve customer retention, companies tend to throw marketing dollars at courting new business.
In this article, we encourage you not to neglect your best business prospects – these are your current customers. Create a strategy for customer retention to watch your profits soar.
Today, we look at how to improve customer retention with these five tools. First, let’s look at customer retention:
Studies show that retaining customers is better for your bottom line than working hard to acquire new ones. But, just what does customer retention mean?
Customer retention is the process you go through to encourage your current customers’ loyalty. Customer retention strategies work together to encourage your repeat business.
Consider this definition by Impact Learning Systems:
By definition, customer retention is the activity a company undertakes to prevent customers from defecting to alternative companies. Successful customer retention starts with the first contact and continues throughout the entire lifetime of the relationship.
Since customer retention is one of the most powerful ways to grow your business, we’re here to tell you that it is doable. The best part about customer retention is that you already have a relationship with these customers because they’ve already made at least one purchase from you.
They know your business and a little about at least one of your products. Now, it’s up to you to convince them to move forward with your business again and again. To help you do that, here’s how to improve customer retention with these five tools.
The most important part of your customer retention strategy is relationship building. Once your customer makes the first purchase, it’s time to personalize the message.
This allows you to tailor information to each customer’s needs.
For example, let’s say you purchase a pair of jeans on an eCommerce site. That company may then send you an email with product recommendations that might go with your new pair of jeans.
Alternatively, you might sell vacuum cleaners online. You could continue to build the relationship by offering emails that include cleaning tips and product recommendations on vacuum cleaner bags.
Continue reading “Improve Customer Retention With These 5 Tools”