Your customers are the essence of your business. Most business owners instinctively know this.
What many don’t know is that you have to cultivate and nurture your customers to grow your base and retain your customers.
In this article, we look at seven ways to grow your business with emails. We’ll show you how to do it and why.
Let’s look at the transactional email and the power it has to grow your business. Continue reading “7 Ways To Grow Your Customer Base With Emails”
Keeping the customers you have today has never been more important for your online business.
While finding new customers and growing that side of your business is terrific, keeping your current customers and increasing their loyalty is cheaper for our business in the long run.
We’re going to look at retention marketing and your online business. They are a match made in heaven, and we’re going to explain why.
First, let’s look at some statistics on the importance of retention marketing.
If you’re one of the many businesses not currently working to retain your existing clients, we’re going to provide you a few reasons why it’s time to refresh your marketing strategy.
Here’s a few reasons why retaining current customers is “better” for your business than acquiring new ones.
Now that we’ve solidly convinced you of the importance of retention marketing and your online business, let’s look at some tactics that work. Continue reading “Retention Marketing And Your Online Business – A Match Made In Heaven”
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”
Did you know that it is five times cheaper to retain a customer than it is to acquire a new one?
Customer acquisition costs can break a marketing budget, yet many businesses spend more time focusing on attracting new customers than retaining their loyal customers.
That’s a puzzling statistic since one study says if you increase customer retention rates by just 5%, you’ll increase profits by 25-95%.
While we believe in customer acquisition tactics, today, we’re going to give customer retention it’s fair representation. In this article, we look at the seven rules of retention marketing so you can improve your rates and grow your business.
If the words “retention marketing” leave you scratching your head, we’re going to define retention marketing for you first, and then look at the seven rules.
In its simplest form, retention marketing is what you do to keep your customers engaged, happy and spending their money.
Sometimes it’s called life-cycle marketing or loyalty marketing,
Retention marketing is a fairly new term, but one that is becoming quite widespread in marketing circles and the realm of eCommerce.
With retention marketing, through various activities, you create engaged customers that return to your online store again and again to make a purchase.
You increase the likelihood that your current customers will purchase again while putting some emphasis on increasing their purchase rate and amount.
Here are seven rules of retention marketing.
Customer service can be more important to your customers than the actual product. Consider the customer who makes a purchase on your website.