Customer retention planning guide
Retain customers and grow your business with our retention guide
How will this guide on customer retention and loyalty help me grow my business?
It can be easy to fall into an acquisition-focused mindset when trying to grow your business. Yet customer retention is an imperative part of business growth, and an area that doesn't often get enough attention. At the start of our customer retention guide we include some key facts on the benefits of retention strategies, and how research has consistently shown that well-designed retention programmes can drive bottom-line performance.
Some of these statistics include:
- A 5% increase in customer retention can increase profitability by 75%
- The probability of selling to an existing customer is 60 – 70%. The probability of selling to a new prospect is 5-20%
- A 10% increase in customer retention levels result in a 30% increase in the value of the company
Given these facts, it is essential to have a proactive, well-planned approach to customer retention and loyalty in order to increase business value and profit growth. In this guide, E-CRM specialist Andrew Campbell explains how to create a customer retention strategy using a range of frameworks and examples.
The 2022 edition of this guide features new information and amends from Dr. Dave Chaffey.
What does the customer retention guide include?
This guide is structured around 7 Steps, which are:
- Define effectiveness of current retention programme
- Define retention strategy
- Design customer communications programmes
- Deliver personalized experiences
- Deliver seamless multichannel experiences
- Unlock the power of content
- Technology alignment
Each section includes best practice tips and strategy recommendations plus frameworks to help you structure your plans, for example:
- Retention roadmap
- Retention opportunity grid
- Customer journey analysis
- Groundswell social media interaction model
The 2022 edition of this guide, (published 1 April 2022), includes newer examples and references to updated customer retention strategies and tactics.
- Author: Andrew Campbell
- Editors: Dr. Dave Chaffey and Amelia Mayes, Smart Insights
- Format: Downloadable PDF
About the author
Andrew Campbell is an eCRM and social CRM consultant, and MarTech Director at the HOME Agency. You can contact Andrew through LinkedIn.