#Customer Retention #Marketing Tactics

In Loyalty & CRM by HannahLeave a Comment

customer

The probability of selling to an existing customer is 60-70%. The probability of selling to a new prospect is 5-20% (from Marketing Metrics).  Research also shows that a 10% increase in customer retention results in a 30% increase in the value of the company (from Bain and Co.)  Anyone working at a SaaS business knows that churn and customer renewals are critical metrics for the business.  Yet, many marketing plans are so focused on customer acquisition that they largely ignore customer retention.

Here are some ideas to help you kick-start your customer retention marketing:

  1. Regular Communication with Customized Content and Special Offers
  2. Customer service
  3. Listen (and then talk)
  4. Loyalty programs, appreciation awards and customer referral rewards
  5. Bring Your Customers Together
  6. Offer Customized Content
  7. Offer Personalized Picks and Services
  8. Ask for Opinions
  9. Develop an Email Personality
  10. Research Before You React
  11. Create a Client Portal
  12. Reward Loyal Customers
  13. Triggered Coupons
  14. Make the Tedious Easy
  15. Plan a “Win-Back” Program
  16. Under Promise and Over Deliver
  17. Solicit customer feedback online
  18. Create customer-only email communications
  19. Use online chat for customer support
  20. Give customers a peek at new products
  21. Use social media to engage customers in conversations
  22. Maintain a strong market presence.
  23. Reducing Attrition
  24. Sell and then sell again
  25. Bring back the "lost sheep"
  26. Frequent Communications Calendar
  27. Extraordinary Customer Service
  28. Courtesy system
  29. Product or service integrity
  30. Measure lifetime value
  31. A complaint is a gift
  32. Blogs
  33. CRM Systems
  34. Overcome Buyers Remorse
  35. Personal Touches
  36. Premiums and Gifts
  37. Regular Reviews

Hey, you made it all the way to the end! You should subscribe!  You can sign up for email updates, subscribe via RSS or follow me on Twitter or on Facebook.

Other posts you might be interested in are:

How technology is changing #customer engagement

How #AbuDhabiMunicipality enhanced #customer service

Leave a Comment

Current ye@r *