Posts Tagged: Customer Retention

Why focus on customer retention vs. customer acquisition?

Is your growth plan to acquire more new customers? What’s wrong with that? Nothing, if you have all the time and resources in the world, but there’s a smarter way to maintain growth whilst achieving a high customer retention rate. It’s simple, keeping your customers coming back for more will result in a greater ROI.

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5 Ways Data and Text Analytics Improve Customer Retention

Customer retention strategies fuelled by data ultimately influence how your team will approach customers — it’s proven to drive profit. In fact, “executive teams that make extensive use of customer data analytics across all business decisions see a 126% profit improvement over companies that don’t” (McKinsey, 2014).

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6 ways to customer retention – with the least effort, most impact

How to achieve a high customer retention rate? It’s pretty much common knowledge: To achieve the most impact, work on the 20% that matters, that which will make the biggest difference. You can apply the same principle to customer retention. The least effort, meaning once you’ve set the following foundation strategies, it’s up to your organisation to make it happen.

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Customer Experience Update