Proven Strategies to Reduce Customer Churn & Increase Customer Loyalty
If closing the sales deal is a winning moment, then closing a customer account is a disheartening phase that should be prevented before it’s too late. Like it or not, no single business in the world can escape this inevitable part of customer churn and can make you keep awake all night long. According to the Forrester, it costs 5 TIMES MORE on customer acquisition than it does to nurture the existing ones and it will cost you multiple times higher to bring another client up to a similar level as a present one. What is Customer Churn? For B2B marketers, it is evident to focus on the calculation of lead generation and a number of closed deals that drive the best ROI. Fair enough? Customer churn is the approximate number of customers who stopped using your product/service and requested for an account closure due to unsatisfied client servicing, price surge, product fault or end number of reasons. Here I am sharing prevalent strategies that would help you t...