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Tag Archives: customer retention
The Value of Improving Customer Retention
Focusing on new customers is important. But focusing on customer retention is potentially more so, especially if you’ve already developed as a company. If you have limited research dollars, make sure you’re allocating them to retention research and not simply focusing on analyzing your market. Read more…
Is It True That Customers Cost More To Attract Than to Retain? Part 2
Essentially, the idea is that customer profitability is more important than anything. Retention isn’t necessarily more valuable or more important than customer attraction. A great deal of it depends on what industry you’re in, how you price your products, and which customers are coming back. Certainly any company that operates at a loss for any of its recurring customers could be losing more money on retaining customers than attracting them. Read more…
Is It True That Customers Cost More To Attract Than to Retain? Part 1
One of the most common beliefs in modern marketing – and one that we often echo on this site, for reasons we’ll get to shortly – are that customer acquisition (through marketing, sales, finding leads, and more) costs more than customer retention. It’s a belief that’s existed for years, and one that, when looked at with a skeptics eye, may not actually be true. Read more…
5 Myths About Customer Retention
Customer retention is an underrated aspect of maintaining a successful business. All companies understand that losing a customer is bad for business, but not every company realizes that a returning customer is 2 to 5 times as valuable as a new customer. If you want to maintain your business, you need your customers to keep coming back. Read more…
How to Develop a Customer Retention Strategy Part 2
It’s always important to attract more customers. But once you’ve attracted those customers, you need to keep them within the company. It’s considerably better for your revenue (potentially more valuable than finding a new customer) and makes good business sense.Always remember to consult your customers to see what’s causing them to leave and what they need to remain with your company. Only then will you really be able to create a retention strategy that works. Sign up with Survey Methods to get started. Read more…
How to Develop a Customer Retention Strategy Part 1
Customer retention may be the most important part of a successful business. Companies spend a great deal of money trying to attract just a single customer, and the longer that customer stays with your company the more that investment will continue to pay off over time. Read more…
Managing Your Online Presence
Managing your online presence is a very minor part of customer satisfaction, but it does play a larger role than many companies would like to believe. Try to make all first impressions of your business, including those online, as positive as possible, and you greatly increase your chances of getting reliable and satisfied business. Read more…
Company Responses on Yelp and Customer Service
Customer service isn’t about trying to appease the majority. It’s about trying to target every customer, and make every customer happy. While the customer isn’t always right, the customer experience is always important. One bad customer service experience can lead to a considerably negative experience, and these days even a single bad experience can haunt your company for a long period of time. Read more…
The Benefits of a Chief Customer Officer (CCO)
CCOs may be a relatively new addition to the executive lineup, but they are already playing an important role in the future of many companies. If you run a large company that is attempting to create a customer mindset throughout the company, adding a Chief Customer Officer executive position may be an important step. Read more…
Can You Research Only Your Best Customers?
Researching your best customers is a strategy you may want to implement. If you can find an effective way to measure who your best customers truly are, researching their needs can help your company. Read more…
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