As a business owner, there are few things more unsettling than a high churn rate. Growth represents one of the most important metrics when it comes to success in business. So losing customers at a high rate is never something you want your company to be known for. That’s why customer retention is such a vital strategy to employ.
While acquiring customers was traditionally the primary means by which businesses sought success, the tides have changed in recent years. Retention marketing becoming the go-to strategy in most industries. Seeking to retain customers, rather than exclusively acquire them, has been shown to be more affordable and more lucrative. And it’s generally a more effective means of building a solid customer base.
So how can you go about retaining customers and lowering your high churn rate? Take a look at a few strategies below to revamp your strategy when it comes to