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How To Develop Your Customer Retention Strategy

ConversionXL

Has your company’s customer retention rate increased, decreased or remained status quo over the past five years? Have you outlined and initiated a formal customer retention strategy? In a study by Harvard Business School , it was found that increasing customer retention by even 5% can increase profits between 25-95%.

Retention 112
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The 4 Phases For Developing A Customer Retention Strategy

ConversionXL

Has your company’s customer retention rate increased, decreased or remained status quo over the past five years? Have you outlined and initiated a formal customer retention strategy? In a study by Harvard Business School , it was found that increasing customer retention by even 5% can increase profits between 25-95%.

Retention 115
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article thumbnail

The 4 Phases For Developing A Customer Retention Strategy

ConversionXL

Has your company’s customer retention rate increased, decreased or remained status quo over the past five years? Have you outlined and initiated a formal customer retention strategy? In a study by Harvard Business School , it was found that increasing customer retention by even 5% can increase profits between 25-95%.

Retention 105
article thumbnail

The 4 Phases For Developing A Customer Retention Strategy

ConversionXL

Has your company’s customer retention rate increased, decreased or remained status quo over the past five years? Have you outlined and initiated a formal customer retention strategy? In a study by Harvard Business School , it was found that increasing customer retention by even 5% can increase profits between 25-95%.

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The Biggest Barriers Keeping Your Startup From Seeing Its Full Potential

ReadWriteStart

While there’s nothing inherently wrong with this approach, and you do need customer acquisition to help your company grow, it often neglects an important counterpoint: customer retention. . Customer retention is the practice of ensuring that your current customers stay with your brand and/or continue buying from you in the future.

Startup 127
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7 High-Performing Ecommerce Marketing Strategies for 2022

ConversionXL

Common examples include: Average order value; Sales conversion rate; Cart abandonment rate; Customer acquisition cost; Customer lifetime value; Bounce rate; Click-through rates; Pop-up engagement rates; ROI (return on investment; Average inventory sold per day. Clever, convincing, and customer-oriented content drive loyalty and retention.

eCommerce 129
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Critical Key Performance Indicators (KPIs) for Founders

Up and Running

A data-driven approach can help you make accurate and timely business decisions to meet market demands and improve cost-efficiency. Net Promoter Score (NPS): measures customer loyalty and satisfaction, which is essential for customer retention and referral marketing. “What gets measured gets done.” . Marketing KPIs. Sales KPIs.

Founder 71