{"id":27948,"date":"2020-03-03T10:06:00","date_gmt":"2020-03-03T17:06:00","guid":{"rendered":"https:\/\/bamf.com\/?p=27948"},"modified":"2020-06-26T15:07:03","modified_gmt":"2020-06-26T22:07:03","slug":"customer-retention","status":"publish","type":"post","link":"https:\/\/bamf.com\/customer-retention\/","title":{"rendered":"16 Cutting-Edge Customer Retention Strategies For 2020"},"content":{"rendered":"\r\n
Increasing your customer retention rates is an investment that is always worthwhile.\u00a0<\/p>\r\n\r\n
Customers are what shapes the success of your business. In fact, according to CallMiner<\/a>, U.S. companies lose as much as $136.8 billion per year, due to customer switching that is completely avoidable.\u00a0<\/p>\r\n\r\n With an ever-evolving digital marketing space, direct responses and inbound tactics are easier than ever.\u00a0<\/p>\r\n\r\n However, with every business doing the same thing, you have a double-edged sword in your hands.\u00a0<\/p>\r\n\r\n On one hand, customers expect that you have the same CRM systems in place as your competitors. Emails, Social Media support, and telemarketing support <\/em>are a must.\u00a0<\/p>\r\n\r\n On the other edge of the sword, poorly implemented tactics can result in the loss of your clients.\u00a0<\/p>\r\n\r\n So, how do you go about increasing your client retention rates? <\/em>????\u200d\u2642\ufe0f\u00a0<\/p>\r\n\r\n It\u2019s easy and simple. And I’m to show you just how to do it.\u00a0<\/p>\r\n\r\n But first, what is all the fuss<\/em> about?\u00a0<\/p>\r\n\r\n Table of Contents<\/strong><\/p>\r\n\r\n Understand that CRM is a Founding Part of the Profit Equation (Calculate your LTVs) <\/a><\/p>\r\n\r\n How do you decide how much to invest in customer retention? <\/a><\/p>\r\n\r\n The 16 MOST Cutting-Edge Customer Retention Strategies for 2020 <\/a><\/p>\r\n\r\n Test Your Customer Response Management Process <\/a><\/p>\r\n\r\n Address the Most Common CRM Issues by Thinking Outside of the Box <\/a><\/p>\r\n\r\n Think Personal Instead of Global <\/a><\/p>\r\n\r\n Build Out a Gamification System that Rewards LTV <\/a><\/p>\r\n\r\n Use Loyalty Program to Reward your Most Active Customer <\/a><\/p>\r\n\r\n Improve your Customer Retention with an Engaging Company Mission <\/a><\/p>\r\n\r\n Implement Direct Digital Response Tactics on Social Media <\/a><\/p>\r\n\r\n Focus on the Quality of your Customer Response <\/a><\/p>\r\n\r\n Chatbots are the future. Get on the Trend Sooner, Rather than Later. <\/a><\/p>\r\n\r\n Actively Communicate with your Customers <\/a><\/p>\r\n\r\n Position Yourself as the “Customer Whisperer” in your Industry <\/a><\/p>\r\n\r\n Build out Experiences to Engage Customers with your Brand Values <\/a><\/p>\r\n\r\n Leverage Social, Authority and Scientific Proof <\/a><\/p>\r\n\r\n Actively Improve the Relationship with your Customers <\/a><\/p>\r\n\r\n Ensure that your Employees are Active Brand Advocates <\/a><\/p>\r\n\r\n Be Proactive in the Customer Perception of your Product Pricing <\/a><\/p>\r\n\r\n Conclusion <\/a><\/p>\r\n\r\n I\u2019ve seen a lot of business owners stumble upon CRM tactics after the fact<\/em>.\u00a0<\/p>\r\n\r\n In building a strategy, they consider the cost of the product, calculate the profit margins, jump on a marketing tactic and wait.\u00a0<\/p>\r\n\r\n Yet, in about a year or two, they wonder WHY isn\u2019t their business successful.\u00a0<\/em><\/p>\r\n\r\n It was boasting profits in the beginning, so what\u2019s changed?\u00a0<\/p>\r\n\r\n Well, you\u2019ve considered ONLY your customer acquisition costs. Have you thought about the experience they have ONCE they purchase?\u00a0<\/p>\r\n\r\nUnderstand that CRM is a Founding Part of the Profit Equation (Calculate your LTVs)\u00a0<\/strong><\/h2>\r\n\r\n