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How to Improve Customer Retention By Increasing the Value Customers Get From Your Products

Written by Joshua Paul | on October 3, 2014 at 8:30 AM

A lot of factors go into keeping your customers. Especially in the case of B2B companies, customer retention can be a complex challenge. However, despite its intricacies, reducing your retention rates can have a significant effect on your profits.

Research has shown that reducing customer churn by a mere 5% can increase your profits by 25-125%. With those kinds of numbers, your current customers suddenly seem a lot more valuable.

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Topics: Customer Engagement

Growing an Online Community: A Case Study on Social Density and Ongoing Analysis

Written by Katie Bapple | on September 30, 2014 at 8:30 AM

A bulk of my personal experience as a full-time online community manager was spent developing sizable communities of practice. It offered a great vantage point, because the years of quantitative and qualitative data available allowed me to uncover patterns of audience behaviors and interests, as well as corresponding community development processes, over time.

What did I learn? The most notable lesson was that somewhere in the success of the online communities we had grown, we got carried away - we physically grew the communities too much.

How Taking a Step Back Can Be the Best Way to Move Forward

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Topics: Online Community Management

Are You Making These Online Community Management Mistakes When Engaging New Members?

Written by Katie Bapple | on September 25, 2014 at 8:30 AM

In last week's blog article, we covered four quick tips to convert new online community members into regular visitors and contributors.

Since this initiative relates to your online community's member engagement strategy, ”the source of our most frequently heard questions” this week, we're covering the topic again by tipping it on its head.

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Topics: Online Community Management, Member Engagement

Customer Experience: Are You Addressing These 12 Critical Points?

Written by Joshua Paul | on September 23, 2014 at 8:30 AM

Customer experience. It's the new buzzword on the tip of everyone's tongue"”and not without good reason. The Customers 2020 Report claims that by the year 2020, experience will expand its lead over price and product as the key brand differentiator. However, "creating a better customer experience" is a lofty goal that can be difficult to define.

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Topics: Customer Experience

Online Community Management: 4 Tips for Turning New Members Into Regular Members

Written by Katie Bapple | on September 18, 2014 at 8:40 AM

On average, only 10% of new members will participate within their first month of joining an online community. Additionally, the likelihood a new member will engage in the community, or even visit it, drops significantly over time.

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Topics: Online Community Management, Member Engagement

8 Questions in Customers' Heads That Impact Customer Retention

Written by Joshua Paul | on September 16, 2014 at 8:30 AM

By now, you know how important customer retention can be to the future of your business. You know that acquiring new customers costs five times as much as retaining the customers you currently have. You've probably seen research suggesting that improving your customer churn by just 5% can produce a profit increase anywhere from 25-125%. Do you also know that 80% of your future revenue is likely to come from just 20% of your current customers?

The problem with customer retention is that it isn't as simple as "are my customers satisfied with my product?" Just as there are lots of reasons people buy from you, there are also lots of reasons people remain your customers.

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Why Are Phone Skills Important for Online Community Managers? [Quick Tip]

Written by Katie Bapple | on September 10, 2014 at 9:40 AM

When people think about online community managers, they often envision a social media ninja who can manage their world with a laptop and a smartphone.

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Topics: Online Community Management

Lessons from Years of Creating and Managing Online Communities [Interview]

Written by Joshua Paul | on September 9, 2014 at 8:28 AM

Higher Logicrecently launched a new professional services group to help businesses and nonprofit membership organizations increase engagement and the return on investment of their online communities.

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Topics: Online Community Management

CASE, ILTA and SPE Chat About Online Community Engagement Success

Written by Lauren Wolfe | on September 5, 2014 at 11:00 AM

Clients of Higher Logic and Personify came together last week to discuss the best ways to take advantage of both platforms, and to increase community activity and communication. Currently, over 47 mutual association clients have utilized the Personify Gold Star Integration and Activity Sync back to their databases to offer single-sign-on, secure data exchange and find new engagement opportunities for their online communities.

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Topics: Associations, Online Community Software, Member Engagement

23 Examples of Online Customer Communities

Written by Joshua Paul | on September 4, 2014 at 10:03 AM

We wish all of our ideas were original. The truth is they are not, nor do they have to be. A big source of great business strategies comes from analyzing what other companies have already done. This is especially true when you implement emerging technologies, like online customer communities and other social crm platforms.

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Topics: Customer Communities

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