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| Name | How to increase customer retention? Customer Retention |
| Video Uploader | Video From Easy Marketing |
| Upload Date | This Video Uploaded At 22-05-2023 05:16:46 |
| Video Discription | Customer retention is a crucial aspect of any successful business strategy, as it involves building long-lasting relationships with customers to ensure their loyalty and continued satisfaction.Some people say that it costs five times as much to get a new customer as to keep an old one. Some people say that keeping customers is seven times more valuable. Getting a new customer can cost anywhere from five to twenty-five times as much as keeping an old one. So, it's possible that the exact numbers aren't very clear. The key is that keeping customers is more cost-effective, profitable, and easy in many ways than getting new ones. In this video, we'll answer the following: What does it mean to keep customers? What have worked in the past to keep customers? What automated tools help people stay? What is it to keep a customer? What Does "Client Retention" Mean? Customer retention, also called client retention, is the process of turning one-time buyers into people who buy from you again and again. The word "retention," which means "to keep," comes from the word "retain." So, the goal of customer retention is to keep the clients you already have. Each industry has different goals and strategies for keeping customers. For example, an e-commerce site and a company that sells high-end software will use different ways to keep customers. But in all fields, the goal is to provide a level of quality and service that makes customers want to come back again and again. This is what is called "client retention done right." What are programs to keep customers coming back? Customer retention programs are just actions and strategies that brands use to make the customer experience better. These things are done to get customers to buy from the brand again and to get the word out about the good or service. There are many different kinds of plans to keep customers coming back, but we'll stick to those made for online store owners like you. Let's look at some ways to keep customers happy, which will make them more likely, able, and inspired to buy more from your store. How important it is to keep clients Keeping customers is important for a lot of reasons, not just because it costs more to find new customers than to keep the ones you already have. Customers who buy from you again are 33% more likely to spend money and 50% more likely to buy. So, keeping your customers is not only cheaper in the long run, but it also makes you more money. Keeping customers may also help you save money on marketing. Customers who are happy with your business will come back, and they will also tell their friends and family about you. Paid advertising is five times less likely to affect sales than word-of-mouth marketing. When your happy customers trust you, your sales will go up, your advertising costs will go down, and you'll save money. You don't want to be the new business that doesn't last long. You want real, organic growth that makes sure you'll make money in the future. Why keeping customers is good for business Here is a summary of the benefits of using techniques to keep clients: Harvard says that if retention rates go up by 5%, earnings will go up by 25% to 95%. Use word-of-mouth marketing from your loyal customers to spread the word about your brand and improve its reputation. gives you the chance to connect with your customers in a positive way. allows you to find weaknesses and fix them by getting feedback from clients and listening to what they want. Customers who have been loyal to you are more likely to try out new products. Studies show that it is six times more likely. If your customers trust you, they will be more likely to let you off the hook when you make a mistake. This means you'll have fewer clients who get so angry they explode. 10 of the best ways to keep customers coming back Marketing to keep customers coming back can be done in many different ways. The best ways to keep customers coming back are to interact with them on social media, use email marketing, and set reasonable expectations. 1. Expect reasonable things Setting realistic goals is important if you want your customer retention rate to go up, because it can have a big impact on your company's ability to keep customers. Think about things like the time it takes to ship. When it comes to shipping times, Amazon is better than most other online stores. Instead, you should work hard to tell your clients about it. Think about a customer who orders something from you but has to wait a few weeks for it to come. These two things could happen: #marketing #customerretention Contact for partnership: support@easybusinessschool.org The program we used to make the animated video: https://tidd.ly/3Y5siMb Copywriter: Kamran Tagiyev Voiceover author: Jeremy G. Animation author: Asad Asadzadeh Sound editor: Mahluga Taghiyeva Project manager: Kamran Tagiyev Gmc8UxiwShA |
| Category | Education |
| Tags | customer retention rate | how to do customer retention | customer retention examples | customer retention techniques | learn about customer retention | retention | calculate customer retention | how to increase customer retention and loyalty | customer retention strategy | customer retention definition | customer retention metrics | measuring customer retention | importance of customer retention | customer retention vs acquisition | customer retention strategies that work in 2023 |
