How to identify and implement customer retention strategies for your business
When it comes to certain companies, it's painfully obvious that customers only continue to patronize the business because there are no better alternatives. You know the kind of company we mean-the one with poor or indifferent customer service coupled with shamelessly low promotion prices for new customers. What's missing is concern for customer retention and for adding value for the customers these businesses already have.
Even companies who truly care about customers can neglect customer retention strategy for the thrill of finding new ways to woo customers. Measuring customer retention is difficult, and predicting it even more so, but the most important customer retention strategy is simply listening to feedback from customers.
How Medallia’s CEM Software Can Help Your Customer Retention Strategy
- Transparent. Collect feedback from multiple channels (email, web, phone, etc) and unify into a definitive picture of the customer
- Engaging. Simple, intuitive reporting ensures the entire organization, executive to frontline, understands feedback and takes action to improve
- Performance. Patented technology loads reports and fires at-risk customer alerts in <1 second with 99.99% up-time
Get more information on how Medallia can help you retain customers.