Customer Retention: 4 Strategies to Stop the Bleeding

Customer Retention: 4 Strategies to Stop the Bleeding

Customer retention is arguably the most important aspect of marketing. If you can’t hold on to your customers, then what’s the point of spending money to find new ones? It’s like adding more water to a bucket that has a hole at the bottom.

You have to get to the solution of the problem. In this case, it means finding out why customers aren’t returning to your business and implementing a corresponding strategy to stop the bleeding. Here are a few ones you can try, depending on your particular problem.

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How Using Marketing Data Can Improve Customer Retention

How Using Marketing Data Can Improve Customer Retention

In too many businesses, information exists in silos. Marketing departments seek to gather as much data as possible to convert members of your target audience into leads. Sales department repeat the process to convince leads that becoming a customer is a great idea. Then, the process starts anew in customer service.

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How the Right Metrics Can Improve Customer Retention

How the Right Metrics Can Improve Customer Retention

We won’t deny it: it’s tempting to consider the success of your marketing and business success through lenses that focus on customer acquisition. The amount of new customers per month, along with other metrics such as lead conversion rates, gives you a great idea about your growing business and what you can do to accelerate that growth.

Unfortunately, while these metrics are undoubtedly important, they may not be enough if you’re looking to accurately estimate the success of your business, for one simple reason: retention. None of them actually measure how easily you keep current customers on board, which is a core component of any business success.
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