Reducing churn and building retention should be major points on every retailer’s agenda. There is no mystery formula, just hard work and proper tools. Learn how to cut down churn with CareCloud.

CHURN RATE – METRIC TO KEEP DOWN

Acquiring new customers is tricky. You may boost sales with a well-promoted deal, skyrocket revenue for a while, and welcome new customers. But some months later, you’ll watch those same customers churn while your profits decrease. Because if you operate in retail or e-commerce, your true growth comes from retention.

The churn rate is often seen as a sign of bad marketing, but it is natural to every business. In all simplicity, it measures the percentage of customers who stop buying your product within a certain time.

METHODS TO CUT DOWN CHURN

The essentials of reducing churn are keeping customers engaged and building retention through marketing content. Try these tested methods, and you’ll see churn go down soon:

Purchase Follow-Up and Nurture Campaigns. Lead customers through their journey with lucrative, proactive, and engaging content. Even a “thank you for purchase” email goes a long way. Automate follow-ups that reward large purchases with a voucher or customer program points.

Send notifications on repeatedly purchased products: supplements, cosmetics, or pet food. Customers will appreciate the reminder and buy from you rather than go to the competition.

Streamline communication and expand channels in a true omnichannel fashion. Use push notifications for excellent abandoned cart notifications, SMS for the “back-in-stock” message, or Viber to boost campaigns on special deals.

Furthermore, CareCloud Marketing Automation allows you to link multiple channels within one workflow. Expand your reach and stay on the customer’s mind.  

Personalize as much as possible. Segment customers and change communication to match their needs and desires. Filter customers by gender, age, or purchase habits, then send alternative versions of campaigns to cater to everyone’s taste.

Use CareCloud’s AI Recommendation Engine to distribute relevant and accurate product suggestions. Simply use the plugin in CareCloud’s campaign designer; the AI supplies the most relevant recommendations. When customers feel understood and cared for, they won’t churn. 

Customer programs effectively prevent churn. Choose a suitable type for your business (subscription, tiered, or simple points program), and carefully gather customer data to drive personalization further.

Keep customers hooked through lucrative deals, gamification, and a transparent customer program. CareCloud’s Loyalty & Administration lets you create and manage your own customer program.

Gather feedback any chance you get. Every review advances your progress because you’ll learn your strengths and improve on the weaker points. Listen to your customers and allow them to speak out. Send questionnaires as a part of purchase follow-up and consult campaign reporting closely.

You need to understand your churn problem before resolving it. CareCloud Analysis & Reporting gives a general business overview and reports on your campaigns down to the last detail. 

PUSH THE CHURN DOWN WITH CARECLOUD

Churn may be natural for any business (5% churn is considered healthy in retail), but you must develop strategies to reduce it. You’ll need to understand your customers more deeply, which is where CDP comes into play.

As any capable CDP, CareCloud provides you with the ideal customer data. Its true strength lies in using this data to fuel its apps. In one unified solution, you can benefit from campaign creator, marketing automation, customer profile overview, and customer program management.

Fight the churn with CareCloud at your side.

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