Article

Alexandra Burnett
Alexandra Burnett 9 December 2013
Categories Customer Experience

Keep more customers with these 5 retention tips!

Keep more customers with these top retention tips!

Customer retention has not really been a focus of marketing programmes in the past, which tend to focus on new customer acquisition.

 

But all that is set to change as businesses realise the power of upselling and cross-selling to customers that already know and trust you.

 

The typical business loses 10% of it’s customers a year, but by cutting that by just 5% can see your profits increase by 25-125%!

 

Follow our tips to improve customer retention and improve your profitability by an incredible amount.

 

1 - Develop a warning system for when customers display signals of being unhappy.

 

Signs to look for include:

 

  • Increased customer service calls

  • No longer answering account manager calls

  • Stopped actively using your product or service

 

Make sure you also have strategies and content in place to try and stop them leaving. Check out these B2B customer retention strategies for some ideas.

 

Get more ideas from this blog about creating brand advocates and in this one about keeping online communities engaged.

 

2. Learn how to apply the 7Ps of marketing to customer retention strategies.

 

  • People

  • Product

  • Place

  • Price

  • Promotion

  • Processes

  • Positioning

 

It’s important to get it right as, according to Gartner, 80% of your future profits will come from 20% of your current customers.

 

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
7 Things Every Company Website Should Include

7 Things Every Company Website Should Include

What elements to include in your company website? This is the first question you should ask yourself before you start designing the site. We’ve shortlisted the following essential elements every business website must have to effectively engage with customers.

simon walker
simon walker 20 February 2017
Read more
8 Tools For Automated Social Media Marketing

8 Tools For Automated Social Media Marketing

In today’s era, marketing online without using the instruments of social media is like using a bucket without a bottom. Social media is your salvation to improved visibility, reach and exposure, the one thing that will fill the vacuum and kill the friction in your marketing efforts.

Paul Simmons
Paul Simmons 13 February 2017
Read more
Digital Marketing Vs. Traditional Marketing: Which One Is Better?

Digital Marketing Vs. Traditional Marketing: Which One Is Better?

What's the difference between digital marketing and traditional marketing, and why does it matter? The answers may surprise you.

Julie Cave
Julie Cave 14 July 2016
Read more
Infographic: Direct Mail vs Email

Infographic: Direct Mail vs Email

In the past direct mail has been referred to as dead. So we decided to do some research and compared direct mail to email marketing, it's digital alternative.

Rosie Niblock
Rosie Niblock 15 February 2017
Read more
4 Important Digital Marketing Channels You Should Know About

4 Important Digital Marketing Channels You Should Know About

It goes without saying that a company can't do without digital marketing in today's world.

Digital Doughnut Contributor
Digital Doughnut Contributor 5 November 2014
Read more