Infographic was originally published on Nextiva.
Customer retention is something that is often overlooked by companies big and small. However, did you know that it’s been reported that winning a customer will cost a company five times more than retaining one they already have.
Besides that, there are numerous benefits to building relationships with your customer base. Brand loyalty, word of mouth marketing and increased sales are just some of the benefits companies who focus on customer retention enjoy.
Even if your company doesn’t have a solid marketing plan for current customers, it’s never too late to start. One of the first things to do is to learn about your customer so that you can create a community among your advocates. Build a customer profile that outlines their values, where they engage most online and how they’d like to be communicated to.
You can then use that information to market to your customers in a way that speaks their language and fosters a unique relationship. The below infographic from Nextiva covers some advanced customer retention strategies that top companies use. These can be looked at as examples and emulated.
Remember to think about how the mentioned companies are connecting with their customers and how your business can too!