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Customer retention is a result of loyalty and trust

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This week’s roundup of Customer Retention thoughts: Customer retention is a result of loyalty and trust. Improve loyalty through anticipation to improve retention.

4 Proven ways to increase customer retention
Stats already show that it’s more costly to acquire new customers than it is to keep them, so how can you increase retention? Here’s the skinny: flexible policies with your users’ experience in mind plus making it easy to get in touch with you.

Correlation between customer retention and customer support
Survey finds businesses increasingly value SaaS applications but facing challenges with their customer support offered. The result? Low customer satisfaction and poor retention rates.

Pain point: difficulty finding the right person to solve their issue at hand. Being there for your customers when they need you will only add to your value, but inadequate customer support has the ability to quickly negate all the pros and promise of your SaaS application.

Customer retention is more than just a one-time effort. Companies are getting serious about investing in bringing someone (e.g. customer retention reps, customer retention analysts, customer retention managers) onboard to manage this ongoing process. Research shows that a 2% increase in customer retention can have the same effect as decreasing costs by 10%.

In fact, here’s a great story that I came across this week: Anticipating needs is the key to customer retention. Applying this dry cleaner example to your daily interactions with your users could increase loyalty and trust.

Jill Rubin

Jill is a senior marketing and business development executive with experience leading successful teams in both large companies and startups. She has taken companies from early stage to strong revenue growth and propelled established businesses to industry leadership positions.

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