50 Handpicked Resources for Customer Retention Leaders – April 2019 Edition

By April 10, 2019Customer Retention

This article contains a collection of 50 highly popular articles that appeared on the internet in the first quarter of 2019. Our curators had a gala time picking the best of the lot and we are very happy to present it to customer-obsessed leaders like yourself. We hope that these resources will offer interesting insights about various customer strategies as we progress into 2019. Enjoy reading!

Customer Retention:

Every organization understands the necessity of winning new business but makes the mistake of just focusing on it, and forgetting the importance of customer retention. According to Gartner, 65% of a company’s business comes from existing customers. So it makes sense to build a healthy business model with solid investment in retention strategy.

Following are a few popular articles on customer retention, which our curators found on the internet in 2019  .

Customer Lifetime Value:

The importance of customer lifetime value has been understated for a long time. Marketers have been writing about how important knowing CLV is for years, and it’s still being ignored or underutilized. A 2018 UK study found that only 34% of the marketers they surveyed were completely aware of the term and its connotations; and only 24% of respondents felt their company was monitoring CLV effectively.

Customer Winback:

Marketers spend a lot of time and money trying to find new customers to replace the ones they lost. But, think why customer’s leave and what can you do to reignite their interest in your brand, so that they stay and continue to purchase from you. A report from the HBR explains why it’s a good idea to win back lost customers instead of letting them go.

Customer Experience:

Downplaying the importance of customer experience is no longer an option for businesses, as the voice of the customer continues to get louder. Purchasers are empowered like never before, and great customer experience drives loyalty and revenue. Recent findings by the Temkin Group found out that companies that earn $1 billion annually can expect to earn an additional $700 million within 3 years of investing in customer experience.

Customer Service:

In an era where companies are learning to prioritize customer service, any company that doesn’t do so will crash and burn. In fact, Deloitte & Touche found that companies that are customer-centric are 60% more profitable.

We hope that these handpicked resources will offer you fresh insights on the best practices, tips, and techniques as you plan your customer strategy for 2019.

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