You want to improve customer retention. How can you use social media to do it?
Customer retention is the ability to keep your existing customers loyal and satisfied with your products or services. It is crucial for your business growth and profitability, as acquiring new customers can cost five times more than retaining existing ones. Social media can be a powerful tool to improve customer retention, if you use it strategically and creatively. Here are some ways you can leverage social media to retain more customers and increase their lifetime value.