Why You Can Trust a Third Party Customer Retention Management Company!


When it comes to business success, existing customers matter as much as new ones. Customers are the lifeline of any enterprise, and without a strong customer base, your business cannot grow and develop. For increased revenue and profits, there needs to be a constant emphasis on professional customer retention management.

Customer bases may vary across business, but remain an important part of each business. The idea of client retention is to build a commitment for the customer to choose your company’s products or services consistently in the future, in the face of competitors and an evolving marketplace. Customer retention is all about keeping clients loyal so that they stay with you for the long haul. Here’s how a third-party retention management company should be trusted for attaining business growth:

  • Save on Costs
It is costlier to go after new customers than retain the ones that are already there. Chasing new customers means developing fresh strategies and you spend a lot of time, money and effort coming up with marketing collaterals. Instead, researchers point to the loyalty effect whereby a 5 percent increase in customer retention can trigger a 25-100 per cent rise in profits. If you want to tap revenue and cost synergies, tried and tested customers are the best option.

  • Focus on the Right Niche

Based on effective customer retention management, you can get the data of existing customers for targeting the right niche. It is easier to find and sustain the attention by opting for comprehensive retention marketing, and for a business that seeks to convert existing clients, this is simply invaluable. Existing customers are more likely to have a certain level of trust in your brand.

Moreover, the 80-20 rule has also taken over, whereby 20 percent of your customers fuel 80 percent of your business sales. So, if you don’t choose a skilled customer retention firm, you will lose 80 percent of your revenue, irrespective of whether you are a startup, an SME, or an established corporate enterprise.

  • Market Your Brand

Building a strong customer base is the key to free word-of-mouth advertising. Loyal old time customers share information and if they refer your product or services, your brand grows. The longer you can retain the customers, the lower is the cost of retention and the higher are the gains, in terms of revenue, referrals and brand advocacy. Whether it’s in the blogs or online forums, your loyal customers will make sure they generate a buzz around your brand and that has the benefit of impacting business bottom lines positively.

Conversion rates are 9x times higher for existing as opposed to acquired customers. As per the research, existing customers also spend give times more on an average on services and products and promote brand ambassadorship. Returning customers, therefore, feel rewarded for commitment to the brand. That is why any company with professional, third-party customer retention management partners is bound to succeed.

  • Build a Credible Reputation

Customer retention also plays a sizeable role in boosting brand credibility and authenticity. Customers who find their loyalties rewarded and needs served are more likely to share positive testimonials and place your company firmly on the path to growth.

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