Customer Retention Strategy Resources That You Can’t Pass Up!

What is customer retention?

Put simply it’s the proactive (hopefully) process of creating and maintaining customer’s loyalty through various methods of engagement, incentive, and in some cases gamification. As I was once told “It’s the process of maintain accounts and creating brand advocates.” I have collected some of the top blogs that talk about ways to increase customer loyalty through the use of content marketing. If you’re anything like me, I will sometimes stay on a marketers list just because the content is that good. The key is relevance. These blogs will help you guide towards a better customer or client retention strategy.

Hubspot’s Guide to Customer Retention

hubspot.comDid you know it costs a business about 5-25X more to acquire a new customer than it does to sell to an existing one? Not only that, but existing customers spend 67% more than new customers. In short, customer loyalty really pays off — and customer loyalty programs pay for themselves.

 

I always find good content marketing retention content on Hubspot.  And why not? Their software is designed to help marketer achieve exact that!

Retention Science is another top Customer Retention Blog

retentionscience.comWith the right technology, you can predict how much each and every person will spend in the future, what their actual probability to purchase is, and how long they will be a customer before they churn. No more guessing. How sensitive is each person to price? What hidden affinities do people have with certain products or categories? What extrapolation can be made from certain demographical patterns and behaviors? Based on different types of activity, how frequently should you reach each person with a message (or how infrequently)? When should you insert a mobile notification? Will they have a higher probability of responding at a certain time of day?

What’s specifically interesting about this post is that they talk about how companie

 

s can use artificial intelligence can help improve a welcome series email, the critical touch point in the customer journey.

How do you measure customer satisfaction?

There’s many way to try to measure customer loyalty and retention through customer surveys, tracking your Net Promoter Score (NPS), other online reviews and social media mentions. Certain industries are better at tracking and assessing customer loyalty because the customer experience is such a key differentiation among competitors. Take the hotel industry for instance: Simply sending point notifications and special rate information is not enough anymore. Customer loyalty can east be lost with one bad experience.

what is customer retention