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Customer Retention Posts

Improve Your Customer Retention Program with an Online Community

Written by Molly Talbert | on March 16, 2017 at 8:30 AM | 4 minute read

 

Many people ask how online communities can bring in new customers. It’s important, but communities aren’t just about growing your customer base. Part of a community’s value comes from something else - retaining existing customers.

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Topics: Online Community Management, Marketing, Customer Retention, Online Community

Is Your Retention Marketing Plan Inbound-y Enough?

Written by Julie Dietz on November 14, 2016 at 8:30 AM | 7 minute read

Which is easier for you to pinpoint, the number of new customers you won last quarter or the number of current customers who left your company?

For most businesses, it's easier to rattle off new customer numbers. That's because the majority of marketing and sales efforts (and executive focus) go toward attracting and winning new customers. Every day, marketers are becoming more and more efficient at winning new business through digital relationship-building approaches like inbound.

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Topics: Communications, Customer Experience, Customer Success, Customer Retention, Online Community, Marketing Automation

7 Things Your Competitors Will Hate About Your Online Community

Written by Christina Green | on September 21, 2016 at 8:30 AM | 4 minute read

Has your competition gotten a little too close for comfort recently?

If you're like most businesses, your competition has increased in the past few years. That could mean that more local organizations are gunning for your audience, or that your competition has gone from your backyard to global. The internet has made it so much easier for small companies, large corporations, and organizations from around the world to zero in on your customers.

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Topics: Online Community Software, Online Community, Customer Success, Customer Retention

What is Net Negative Churn (And Why Do You Want It)

Written by Julie Dietz on May 17, 2016 at 8:30 AM | 4 minute read

It's hard to pinpoint a single reason that your customers either stay with you or leave. However, if there's one thing we know for sure, it's this: change leads to churn. Customers will change their minds. Your services will evolve, and no matter what you do, your products or services aren't always going to be the right fit for every person every time.

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Topics: Customer Retention, Customer Success, Online Community, Marketing Automation

How to Use Online Activity Data to Know If a Customer Might Leave You (Without Hearing It From Them)

Written by Julie Dietz on May 6, 2016 at 8:30 AM | 5 minute read

There are at least two things we know for sure about customer retention:

  1. Keeping the customers you already have is crucial to the success of your business.
  2. Customers are harder to keep today than ever before.

According to recent research from Accenture, 46% of customers in the United States say they're more likely to switch providers now than they were 10 years ago. That's likely because customers today have more accessible information and options, meaning they are constantly aware of their choices.

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Topics: Customer Engagement, Customer Retention, Customer Communities, Online Community

The Importance of Marketing to Your Current Customers

Written by Julie Dietz on April 14, 2016 at 8:30 AM | 4 minute read

We've seen a surge of articles talking about a pervasive problem with marketing strategies: overemphasis on acquisition and lack of focus on current customers. But is it true? Are marketers really overlooking current customers?

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Topics: Customer Experience, Customer Retention, Customer Advocacy, Online Community, Marketing Automation

The Top 5 Reasons Why Companies Launch Branded Online Communities (and Why Some Succeed) [Research]

Written by Julie Dietz on March 8, 2016 at 8:30 AM | 5 minute read

According to a recent study from leading social and community business researchers Leader Networks and CMX, the marketplace is seeing a revolutionizing shift in both business and marketing behavior. Instead of focusing on traditional advertising and cost reduction businesses and associations are focusing on their relationships with customers to improve satisfaction and add value for existing and potential customers.

That means companies are increasingly looking to their customers as the source of their success and looking for more feedback on products, services, and practices.

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Topics: Customer Communities, B2B Communities, Customer Retention, Customer Support, Online Community

What is Retention Marketing? Plus Three Tips for Doing It Well

Written by Joshua Paul | on December 1, 2015 at 8:35 AM | 4 minute read

Not very long ago all marketing was marketing and all sales were sales. As technology has enabled businesses to efficiently segment their messages in infinite ways, such as prospects, partners, opportunities, and current customers, traditional business development functions have become more  granular as well.

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Topics: Customer Retention, Communications, Customer Success, Online Community, Marketing Automation

What Startups Know About Building Community That Many Bigger Businesses Are Just Finding Out

Written by Joshua Paul | on March 10, 2015 at 9:20 AM | 5 minute read

The significant increase in online community management blogs, resources, and services over the past couple of years suggests that online community strategies are rapidly moving into main stream business strategy discussions. However, for some corners of the business landscape, it's already there. As usual, tech startups are leading the way in making effective use of this emerging approach to marketing and customer management.

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Topics: Online Community Management, Customer Advocacy, Customer Retention, Online Community

8 Questions in Customers' Heads That Impact Customer Retention

Written by Joshua Paul | on September 16, 2014 at 8:30 AM | 5 minute read

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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Topics: Online Community, Customer Retention

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