Did you know that customer retention has a much higher revenue impact than acquisition?
According to the Harvard Business Review, research shows that increasing retention rates by 5% increases profits by 25-95%. It also reports that it’s 5 to 25 times more expensive to acquire a new customer than it is to retain an existing one.
We at Germain UX are 100% customer-focused and pride ourselves on not having lost a single client since our launch in 2014.
So what can you do to improve your customer retention? Check out these 9 key strategies, including:
1️⃣ Creating a cohesive and thoughtful onboarding plan
2️⃣ Committing to real-time metrics and automation
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9️⃣ Creating a customer loyalty program
Remember, retention capitalizes off of customers you already have: you make money without having to spend money to acquire that customer base.
How has your organization tackled retention? Let everyone know! 👇💬
Germain UX – Improve Sales Processes and UX in Real-Time
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