How Should You Improve Customer Retention
C ustomer retention rate describes how well a business gets to keep its paying customers over time. Making and keeping customers should also be the business of every business and below are a few strategies that can help with this. There are various strategies that will help your business keep its paying customers. Some of the most effective among these strategies are discussed below, based on research. 1. Stand for something The Corporate Executive Board surveyed some 7,000 consumers across the US and the research revealed that as much as 64 percent of these consumers attributed their loyalty and relationship to a brand as a result of their shared values. That should be food for thought if you’re yet to identify with something. 2. Leverage positive social proof Testimonials, online reviews, and other social proofs will prove very vital in getting customers to trust and rely on your brand. Negative social proof will achieve the opposite effect as well. 3. Appeal to inner ego Re