Another fantastic piece on Customer Retention, this time it’s Gregory Cioiti. Gregory is the Marketing Director of Helpscout. This article explains customer loyalty, something everyone in business needs to take seriously. We all know that earning customer loyalty is an uphill battle, but it is always going to be worth the effort
There is a lot of data; a recent Harvard Business School report showcased that
Increasing customer retention rates by 5 percent increases profits by 25 percent to 95 percent.
Much to everyone’s disappointment, traditional business publications often only have top-level coverage on tactics concerning customer retention and churn. Apparently amazing things can be achieved; we have heard that places like Disney World can have a 70+ percent return rate for their customers. How can you get people to love your business like that?
There are no easy answers, but this article makes some valid suggestions. Particularly those in eCommerce could take some tips from here.
See top 50 tips on Customer Retention Here.