How can you improve in your customers retention strategy?

How to measure your customers expansion strategy

Once your prospect converts and becomes a customer, your job (as a small business marketer) of building engagement with your customers begins.

Always remember that to be a successful small business, you must attend to all of your customer’s lifecycle from awareness to retention.

So how can small businesses take control of their customers after they have converted?

This article gives you more insight into the future of marketing and tell how to take control of your customer’s lifecycle metrics.

How to expand your customers

At this stage, focus on keeping your customers loyal.

The best way to find out what they want is to ask.

Add professional services or anything that will make them happy with your business and help turn them into evangelist for you company.

The following are some metrics on how to measure the results of your customer’s expansion efforts;

  • Customer churn rate: If your business is losing customers at the rate they add them, you’re not growing.
  • Upsell revenue as a percentage of total revenue: What amount of your revenue growth comes from EXISTING customers?
  • Customer satisfaction: While measuring customer satisfaction can be tough to pin down, the benefits of doing so are tremendous. It’s critical you know how your customers feel about your business.

If you are using customer’s rewards programs, check on the status and success of your campaigns on a regular basis.

Learn more here…

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