{"id":40377,"date":"2014-09-19T14:09:01","date_gmt":"2014-09-19T13:09:01","guid":{"rendered":"http:\/\/www.smartinsights.com\/?post_type=guides&#038;p=40377"},"modified":"2023-06-27T08:22:49","modified_gmt":"2023-06-27T07:22:49","slug":"retention-planning-guide","status":"publish","type":"guides","link":"https:\/\/www.smartinsights.com\/guides\/retention-planning-guide\/","title":{"rendered":"Customer retention planning guide"},"content":{"rendered":"<h3>How will this guide on customer retention and loyalty help me grow my business?<\/h3>\n<p>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.<\/p>\n<p>Some of these statistics include:<\/p>\n<ul>\n<li>A 5% increase in customer retention can increase profitability by 75%<\/li>\n<li>The probability of selling to an existing customer is 60 \u2013 70%. The probability of selling to a new prospect is 5-20%<\/li>\n<li>A 10% increase in customer retention levels result in a 30% increase in the value of the company<\/li>\n<\/ul>\n<p>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.<\/p>\n<h3>What does the customer retention guide include?<\/h3>\n<p>This guide is structured around 7 Steps, which are:<\/p>\n<ol>\n<li>Define effectiveness of current retention programme<\/li>\n<li>Define retention strategy<\/li>\n<li>Design customer communications programmes<\/li>\n<li>Deliver personalized experiences<\/li>\n<li>Deliver seamless multichannel experiences<\/li>\n<li>Unlock the power of content<\/li>\n<li>Technology alignment<\/li>\n<\/ol>\n<p>Each section includes best practice tips and strategy recommendations plus frameworks to help you structure your plans, for example:<\/p>\n<ul>\n<li>Retention roadmap<\/li>\n<li>Retention opportunity grid<\/li>\n<li>Customer journey analysis<\/li>\n<li>Groundswell social media interaction model<\/li>\n<\/ul>\n<h3>Latest updates<\/h3>\n<p>The latest edition of this guide includes newer examples and references to updated customer retention strategies and tactics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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, &hellip;..<\/p>\n","protected":false},"featured_media":162918,"template":"","meta":{"_acf_changed":false,"_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"footnotes":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Customer retention planning guide | Smart Insights<\/title>\n<meta name=\"description\" content=\"Customer retention costs 7x less than customer acquisition. 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