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You are here: Home / Archives for customer retention

Understanding Customer Churn and How to Prevent It [Infographic]

October 30, 2020 By Aakash Patel 13 Comments

Understanding Customer Churn and How to Prevent it

Philip Kotler is one of the best marketing minds the world has ever seen. In one of his books, Kotler had suggested that the average company looses anywhere between 10 to 30 percent of customers each year. Although a number of studies disagree with this figure, there is a consensus here that customer churn, at least some of it, is unavoidable. There are several reasons why a customer chooses to stop doing business with you. Some of it is internal - for example, the customer may no … [Read more...]

Filed Under: Small Business Advice Tagged With: customer retention, customer retention strategies

How to Ensure Your Hospitality Business Has a Loyal Customer Base

November 13, 2018 By George Urdea 8 Comments

How to Ensure Your Hospitality Business Has a Loyal Customer Base

Do you understand the importance of cultivating a loyal customer base? Whether you’re a one-man-band café owner or run a global giant, retaining existing customers is much more desirable for your business than having to create new ones. In fact, it costs five times as much to gain a new customer as it does to retain an existing one. Here’s why: in an already saturated consumer market, customers are understandably spoiled for options. They’ll need a lot more convincing to decide on a … [Read more...]

Filed Under: Small Business Advice Tagged With: customer care, customer relationship management, customer retention, customer service

How to Create a Seamless Customer Experience with Acquire

September 30, 2018 By Dana Davis 15 Comments

How to Create a Seamless Customers Experience with Acquire

Organizations are running a marathon competing against each other. The goal is not to get to the finish line on a race track, but to clinch the trophy in the market: customers. You put on your sporting shoes and run like your life depends on it. You get to the customers long before your competitors. Now you have them all to yourself, but you are having a hard time managing them. In the heat of the moment, all you could think of was to acquire customers. It never occurred to you that … [Read more...]

Filed Under: Ecommerce, Small Business Advice Tagged With: acquire, customer care, customer retention, customer service

Know Everything You Have to About User Retention

October 15, 2017 By Afshan Fatima 12 Comments

Know Everything You Have to About User Retention

A user-seller relationship is more than a business transaction. In order to keep a business stable and going, you need the loyalty of your users more than their initial introduction to your product. In short, you need to prioritize user retention. How Do You Crack the User Retention Code? After all, loyal users are satisfied and happy users. Getting the users initially to purchase a product is a good validation of the product's quality at the beginning. But given the competition … [Read more...]

Filed Under: Small Business Advice Tagged With: customer relationship management, customer retention, customer service, user retention

5 Prominent Ways to Deliver the Best Customer Service Experience

November 22, 2016 By Sawaram Suthar 21 Comments

5 Prominent Ways to Deliver the Best Customer Service Experience

“Courteous treatment will make a customer a walking advertisement”: J.C. Penny Corporations around the world spend billions of dollars on advertisements every single year. In the United States alone, companies will spend nearly $200 billion on ads this calendar year, and that figure is set to increase by 10% by 2018. With such staggering numbers, perhaps companies should change their policies and spend more time and resources on customers themselves? Following the logic of J.C. Penny’s … [Read more...]

Filed Under: Small Business Advice Tagged With: customer care, customer relationship management, customer retention, customer service

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