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5 Strategies to Improve Customer Retention With Social Media

GetFeedback

Although customer retention is cheaper than acquisition, it’s easier said than done. It takes a lot of commitment and dedication to get customers to stay loyal to your business. In this article, we are going to talk about how to use social media to attract and retain customers. What is customer retention?

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6 Key Factors to Improve Customer Retention

aircall

Many look to the company for ways to improve customer retention. Email: Ring’s Secret to Improve Customer Retention. For one thing, it sends new customers emails to share tips on properly setting up the product. However, Ring is not the only company to reap the rewards of its stellar customer retention strategies.

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Key Customer Retention Strategies for Alternative Lenders

CSM Magazine

It is not enough to attract new customers to your services. Customer retention is even more important than customer acquisition. More than that, customer retention is the best form of marketing. Customer education programs are not new. You have to encourage their loyalty. Bottom Line.

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5 Best Practices for Hiring a Customer Success Manager

Totango

Customers rely on success managers to unlock the value your product offers and guide them through challenges obstructing that value. A skilled success manager can help transform a distressed customer into a satisfied brand ambassador.

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Why Your First 100 Customers Will Make or Break Your Business

CSM Magazine

When customers see their suggestions being implemented, they feel valued and invested in your brands success. Such a dynamic relationship can foster long-term loyalty, turning early adopters into brand ambassadors. This revenue, while modest, can cover operational costs and fund improvements.

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Customer Retention or Customer Acquisition? It’s Not Even Close.

CSR Inc.

According to studies done by Bain & Company, increasing customer retention by 5% can lead to an increase in profits of 25% to 95%. More to the point, the likelihood of converting an existing customer into a repeat customer ranges from 60% to 70% while the probability of converting a new lead is only 5% to 20% at best.

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Guest blog: 5 Customer Experience Trends for Financial Institutions in 2023

Comm100

This is why it’s so important for financial institutions to know the trends and expectations their existing and potential customers have regarding the customer experience. In this article, we’ll share five customer experience trends that financial institutions should keep up with in 2023.