Secure Client Relationships with Customer Retention Software
Attracting new customers is more expensive than keeping old ones, it’s one of the oldest principles in marketing. “Acquiring new customers costs 5 to 10 times more than selling to a current customer, current customers also spend 67% more on average than those who are new to your business.” Despite this knowledge, brands still tend to forget this simple method. Focusing on customer retention, a term used to measure customer loyalty, should be one of the main strategies of any brand. Customer retention refers to how well a brand or company can keep its customers returning over time. A high rate means that a major number of customers are loyal to your brand and products.
One of the main tricks of retaining customers is to build a trustful relationship so that they are less likely to switch to your competitors. There are numerous ways to keep your customers loyal. You can reward them with loyalty offers, keep them excited with gamification, personalize your marketing and discounts…
But just like any other relationship, trust is hard to gain and unfortunately there is no magic technique that can be implemented. It takes time, money and a lot of work to build a stable and loyal fan base. Here’s how customer retention analytics software can help.
Become trustworthy by building a long-term community with a customer retention tool. Online tooling allows you, as a brand, to ask questions you would normally ask in an offline focus group or through surveys, but for a longer period of time. You can follow the community from the sidelines and adapt research questions based on what is said in the community. As a result, you can expect in-depth feedback that adds important value to the large amounts of consumer data. But most importantly, you’re giving a powerful voice to your customers which is a great way to gain and build trust. By using software for customer retention you can find out what your customers want and what their concerns about your products or brand are. Show that you value their opinion and implement their feedback into your product and brand strategy.
Aim for a high retention rate with customer retention tool
Do you pursue a higher customer retention rate? By using customer retention software, you’re getting continuous feedback from your main target audience. You can keep in touch with your customers when launching new products, improving your services or simply to keep track of their consumer needs. Using a customer retention tool like CMNTY Platform enables you to build a long-term relationship in a flexible and cost-efficient way. As a result you can create a transparent and honest brand identity which customers value and increases your customer retention rate.
The best customer retention software
What is the best customer retention software? Customer retention software is a great way to gather useful insights on your key demographics in order to build a trustworthy relationship with your customers. Most tooling offers mixed methods allowing researchers to measure customer retention with both quant data and in-depth, qual insights.
CMNTY Platform is a mixed-method customer retention tool focusing on the importance of a long-term brand community. It supports different tools and features in order to increase your retention rate and build a loyal fan base. CMNTY Platform is available at a competitive price to fit every research project.