When your customers stop buying from you, it’s the right time to start doing something. But, you don’t need to do something, only because you need to do something. You will need to find the real reasons, and develop customer retention strategies. You can do this only if your decisions are based on data driven techniques.
Competitive analysis is the heart of every successful business. You need to know your biggest competitors and how your company actually performs in correlation with them if you want always to be one step ahead of competition. Because of that we have developed a competitive analysis template as a competitor analysis tool to help you define your position regarding your three biggest competitors.
Acquiring new customers can be very costly, so much so that forward-thinking enterprises also spend considerable amount of resources in order to retain existing ones. Indeed, encouraging people to sign up to your subscription-based business is just the first step. What can be more challenging is maintaining the ties you have already built.
This short guide will walk you through the basics of forging strong relationships with your customers. With the help of these tips, you may be able to gain some good insights on how to retain your clients, and in so doing, improve your average customer lifetime value.