5 ways to increase customer retention
The turnover rate for most telecommunications and media companies exceeds 20% -that’s more than one in every five customers saying goodbye each year. That’s a real problem, considering how difficult and expensive it is to acquire new customers.
If you can increase customer retention, your company can gain a valuable competitive advantage. But how can you grow market share in an industry experiencing eroding pricing power and a flattening market?
The answer lies in providing a more thoughtful customer experience. To help you generate ideas, we’ve assembled a How To Guide: 5 ways telecommunication companies can retain more customers.
In this Guide, you’ll learn how to:
- Move to a customer-centric business model.
- Provide better customer support.
- Leverage your data to improve the customer experience.
- Commit to consistent, omni-channel communications.
- Reduce complexity and customer confusion.
When you can enhance the customer journey, you can reduce customer turnover. Infor Marketing Management is here to help you deliver consistent communications, reduce complexity, and gain better insight into your customers.
Download the How To Guide.
Fred Reichheld, “Why your customers break up with you,” Bain & Company Insights, April 29, 2014.