Customer attrition (also known as churn, turnover, or defection) can cost your company millions of dollars in lost revenue,
not to mention the high cost of acquiring new customers to replace them. Having a strong customer retention program in place
can help you hold onto to your hard-earned clients and increase return on investment. To implement an effective client
retention program, you should:
Nurture My Leads provides all of the necessary components to maintain an effective customer retention strategy, as demonstrated below.
Conduct Surveys
Surveys are an excellent way to gather valuable information about clients,
including their purchasing behaviors, marketing preferences, and opinions about your product or service. All of this information
can be leveraged to create detailed prospect segments, create
personalized one-to-one messages, and analyze behavior in our extensive reporting module.
Segment Clients
The conventional wisdom that states 80% of business is generated by 20% of clients holds true in most industries.
Do you know who your most and least profitable customers are? Nurture My Leads can help you identify and segment your customers
based on demographics, purchasing behavior, and survey responses in order to determine which customers are the most valuable.
You can even create segments for customers that are at a higher risk of leaving, which will allow you to deploy special campaigns
aimed at retention.
Deploy Retention Campaigns
Marketing does not stop once a prospect becomes a customer. Existing customers are an excellent source of additional revenue
by up-selling or cross-selling new products, increasing purchase frequency, and increasing purchase amount. Nurture My Leads
allows you to deploy a variety of campaigns, such as newsletters, special offers, and
coupons across a variety of channels to take advantage of these additional revenue opportunities. Because the cost of
marketing to customers is significantly lower than the cost of marketing to prospects, every additional sale generates a
higher profit margin and ROI.
Analyze Reports
Client level reports provide a detailed view of your relationship a customer and include information regarding marketing messages
sent to the client, click-through rates, survey and form responses, and more. You can even track how the contact responds to
messages under varying conditions.
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