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Customer Retention Posts

3 Ways Online Communities Help Software Companies Drive Revenue

Written by Brian Sugarman on December 20, 2018 at 8:17 AM | 8 minute read

As consumers, we know that brands that consistently deliver value and make our buying experience effortless will continue to win our business over time. In my household, for example, we’re more likely to buy add-ons like Audible and Amazon music because we know the same level of convenience we get with our Prime membership will exist.

Our relationships with companies like Amazon remind us of the high bar that’s been set for the modern day customer experience, not just in the consumer world, but also for business-to-business (B2B) sales. Whether consciously or subconsciously, this standard of service influences our expectations for our buying relationships with B2B technology vendors.

This is nothing new, by the way...although technology has changed how and where we buy, successful brands have always focused on delivering valuable products to their customers and making it easy for them to purchase. However, companies that compete in markets with little to no competition have found ways to be successful over time, simply by being the best or only option available.

Think old school cable television – with so few consumer options, your area provider could win your business despite a reputation of delivering horrendous customer service. Now, with the rise of Over-the-top (OTT) streaming subscriptions, I’ve found that the level of service and ease of doing business has actually improved with my cable company.

The software business model is another example with (historically) limited competition – until now. In a sea of growing competition, it pays to focus on your customers.

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

Engagement, Upsell, Advocacy: How Community Tools Can Transform Your Customer Marketing

Written by Elizabeth Bell on October 2, 2018 at 7:45 AM | 4 minute read

Marketing to your customers is hard work – sometimes it can feel like you’re pushing the same boulder up a hill every day, like good ol’ Sisyphus.

Customer marketing can come with great rewards, though, especially if you’re using tech tools to make your life easier.

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

[WEBINAR RECAP Q&A] The Value of Community in Customer Success

Written by Mark Ace on August 21, 2018 at 7:56 AM | 5 minute read

How do you convince an exec that community is worth it when ROI is long-term? Who should be responsible for managing a community?

Mark Ace recently discussed the value of online community in customer success in a Higher Logic webinar. He answered the questions you had about ROI, community management, customer support, and more.

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Topics: Online Community, Customer Success, Customer Advocacy, Customer Support, Customer Experience, Online Community Software, Customer Retention, Online Community Management

How an Online Community Meets 3 Needs You Didn’t Know You Had

Written by Elizabeth Bell on May 22, 2018 at 12:13 PM | 4 minute read

 

There’s a lot of hype around online communities now. But does that mean your organization really needs one?

You’re not alone. You or your stakeholders may be skeptical about launching an online community – after all, no one’s really asking for one yet. Why invest in something that may not seem like an urgent need? You’re right to ask questions and be concerned. You want to invest your time and money into improvements that will bring value to your organization, and it’s not feasible to put them into just any project.

Every organization is different, with a special product, industry niche, or value proposition for its members. But an online community addresses three challenges every organization has:

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Topics: Online Community, Collaboration Tools, Online Community Software, Member Retention, Customer Retention

Could Your User Group Be the Key to Increasing Customer Retention?

Written by Julie Dietz on March 20, 2018 at 8:30 AM | 4 minute read

Gamification. Loyalty programs. Personal outreach. There are endless ways you could increase customer retention, most of which will probably have a positive impact on your bottom line. But how much impact will they have? If your current programs are only making small improvements, what else can you do to improve retention?

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Topics: Online Community, User Group Management, Customer Retention

Are You Calculating Your Online Community’s Business Impact? [eBook]

Written by Julie Dietz on February 6, 2018 at 8:30 AM | 3 minute read

Your online community wasn’t a whim. You didn’t buy, implement, and grow it for no reason. You did it to make a positive impact on your business. And chances are you’ve been successful.

But have you used business metrics to prove that success?

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Topics: Online Community, Customer Support, Customer Retention

The Evolution of Experience with Marketing Automation

Written by Shayna McGroggan | on December 14, 2017 at 8:30 AM | 3 minute read

Stop me if you’ve heard this one: marketing automation will save you time and increase your engagement and efficiency. Okay, you’ve definitely heard that one, and it’s all true. The problem is you may not be getting to the biggest benefit that marketing automation has to offer: time.

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Topics: Marketing, Member Experience, Customer Retention, Marketing Automation

4 Customer Retention Metrics You Can Find in Your Online Community

Written by Julie Dietz on November 2, 2017 at 8:30 AM | 4 minute read

Customer communities are designed to keep your clients engaged, informed, and satisfied with your business so they stay with you longer, making repeat and additional purchases.

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

How to Increase Customer Retention with an Online Community

Written by Julie Dietz on July 25, 2017 at 8:30 AM | 6 minute read

A five percent increase in customer retention can increase business profits by 25 percent. That’s substantial, but according to the Harvard Business Review, it may be on the low side. That same five percent retention increase may be able to increase revenue by up to 95 percent.

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

The 6 Biggest Business Benefits of Starting a Branded Online Community

Written by Hunter Montgomery | on June 15, 2017 at 8:30 AM | 6 minute read

What drove your last business initiative?

For most of us, the answer revolves around meeting goals and improving the bottom line. We launched our latest project to be more efficient, increase sales, or improve retention.

Those are the same reasons why business executives are starting branded online communities.

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

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