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What do you do if your customer retention strategies are not yielding results?

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Customer retention is the ability to keep your existing customers loyal, satisfied, and engaged with your brand. It is a key factor for long-term growth and profitability, as well as a competitive advantage in your market. But what if your customer retention strategies are not yielding the results you want? How do you identify the root causes of your retention problems, and what can you do to fix them? In this article, we will explore some possible steps you can take to improve your customer retention rate and boost your business performance.

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Natanael Freitas

Top LinkedIn Customer Retention Voice | Especialista E-commerce na Omie | Customer Success | CX | ERP | SaaS | Analista…
Taj Ali

Pharmacist | Medical Representative | Sales professionaL | Customer service Representative | Business Development…
Adrian Hernandez-Liebo

Director @Zowie | AI For Customer Service

1 Analyze your data

The first step to improve your customer retention is to understand why your customers are leaving or losing interest in your products or services. You need to collect and analyze data from various sources, such as surveys, feedback, reviews, churn rates, retention rates, customer lifetime value, customer segments, and behavior patterns. By doing so, you can identify the main pain points, needs, expectations, and preferences of your customers, and how they differ across different groups. You can also spot the gaps, weaknesses, and opportunities in your current retention strategies, and measure their effectiveness and impact.

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Taj Ali

Pharmacist | Medical Representative | Sales professionaL | Customer service Representative | Business Development Executive
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simply you build strategies on amputated insufficient clients data ... collect the true reall, effective data about your customers , then analyze this data and re-build your strategy and make sure to implant customer retention programs.

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Adrian Hernandez-Liebo

Director @Zowie | AI For Customer Service
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First, you have to de risk your existing customer book. In order to do this, you need to identify the cohort of customers that is high risk of churn and figure out which ones you can retain vs which ones will churn regardless of your efforts. This will allow to focus your resources on the customers you can have a positive impact on. You should spend minimum time with customers that are probably not a good fit and are high risk of churn. Your interactions with this group of customers should be high impact/low resource.

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Natanael Freitas

Top LinkedIn Customer Retention Voice | Especialista E-commerce na Omie | Customer Success | CX | ERP | SaaS | Analista BI | Consultoria | Mentoria
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Concordo! Sugiro entender melhor o comportamento do cliente, é essencial realizar análises por safra e cohort. Isso permite identificar padr?es ao longo do tempo e agrupar clientes com características semelhantes para uma análise mais detalhada. Além disso, o diagrama de Sankey pode ser útil para visualizar o fluxo de clientes através de diferentes estágios do processo de reten??o, identificando áreas de perda e oportunidades de melhoria. Essas análises complementares ajudam a obter uma compreens?o abrangente do comportamento do cliente e a tomar decis?es mais informadas.

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Ricky Patel

Certified Customer Success Director | CS Mentor | Podcast Host
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Invest resource into creating a verified outcomes framework - the ability to systemise the discovery and delivery of customer value is a key leading indicator to track for NRR

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Plackeel Kurian Kurian

CXO | CAO | COO | ASIS Member | P & L and Growth Strategist | Operational Excellence | Valued Business Partner | Customer Centric Specialist | Key Account Management | Risk Assessment | Sales Coach | Mentor |
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If your customer retention strategies are not yielding results, consider the following steps to improve them: 1. Identify the problem. 2. Review your strategy. 3. Customer feedback. 4.Competitor analysis. 5. Segmentation. 6. Personalization. 7. Employees training. 8. Review customer journey. 9. Patience and persistence.

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2 Revise your value proposition

The next step is to revisit your value proposition and make sure it aligns with your customers' needs and goals. Your value proposition is the core message that communicates how your products or services solve your customers' problems, deliver benefits, and create value. It is what sets you apart from your competitors and makes your customers choose you over others. If your value proposition is unclear, irrelevant, or outdated, you risk losing your customers to more appealing alternatives. You need to revise your value proposition based on your data analysis, and make it more compelling, specific, and consistent across all your channels and touchpoints.

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Natanael Freitas

Top LinkedIn Customer Retention Voice | Especialista E-commerce na Omie | Customer Success | CX | ERP | SaaS | Analista BI | Consultoria | Mentoria
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Destaco mapear a jornada do cliente e usar descobertas para compreender seu primeiro valor. Ao entender os pontos de contato ao longo da jornada do cliente, podemos identificar o que é mais significativo para eles desde o início. Através de descobertas, como entrevistas e análises de dados, podemos tabular o primeiro valor do cliente, o que é crucial para ajustar nossa proposta de valor e oferecer uma experiência mais alinhada com suas necessidades. Isso fortalece a fidelidade do cliente e reduz o risco de perda para a concorrência.

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3 Enhance your customer experience

Another step to improve your customer retention is to enhance your customer experience and make it more positive, memorable, and engaging. Customer experience is the sum of all the interactions and emotions that your customers have with your brand throughout their journey. It is what shapes their perception, satisfaction, and loyalty. If your customer experience is poor, inconsistent, or unresponsive, you risk damaging your reputation and trust, and increasing your churn rate. You need to enhance your customer experience by improving your product or service quality, design, and usability, providing excellent customer service and support, personalizing your communication and offers, and creating value-added features and benefits.

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Natanael Freitas

Top LinkedIn Customer Retention Voice | Especialista E-commerce na Omie | Customer Success | CX | ERP | SaaS | Analista BI | Consultoria | Mentoria
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Excelente! Sugiro investir em uma jornada interativa por perfil de cliente e implementar um processo de gamifica??o. Ao personalizar a jornada do cliente de acordo com seu perfil e preferências, você cria uma experiência mais envolvente e relevante. Além disso, ao introduzir elementos de gamifica??o, como pontos, níveis e recompensas, você motiva os clientes a se engajarem mais com sua marca e a permanecerem leais. Isso n?o apenas torna a experiência do cliente mais positiva, mas também fortalece a rela??o cliente-marca, reduzindo a taxa de churn e aumentando a fidelidade.

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4 Implement retention programs

The final step to improve your customer retention is to implement retention programs that incentivize, reward, and nurture your customers. Retention programs are strategies that aim to increase customer loyalty, engagement, and advocacy, and reduce churn and attrition. They can include loyalty programs, referral programs, subscription models, discounts, freebies, upselling, cross-selling, reactivation campaigns, and retention emails. You need to implement retention programs that are relevant, attractive, and easy for your customers, and that align with your business goals and value proposition.

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5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What do you do if your customer retention strategies are not yielding results?

1

2

3

4

5

1 Analyze your data

2 Revise your value proposition

3 Enhance your customer experience

4 Implement retention programs

5 Here’s what else to consider

Customer Retention

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What do you do if your customer retention strategies are not yielding results?

1

2

3

4

5

1 Analyze your data

2 Revise your value proposition

3 Enhance your customer experience

4 Implement retention programs

5 Here’s what else to consider

Customer Retention

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