Retention Solution
The Best CX Tool for Churn Prevention
The Cost of Customer Churn
Churn can be an alarming hidden cost of business. While new customers cost more to acquire, loyal customers are 5x more likely to purchase from you again. Stay in touch — personally — throughout the customer journey to boost brand love and slash churn rates.
How Idomoo Helps With Churn Prevention
Retention Results
Retention Case Study
How Zurich Cuts Churn With
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Examples of Videos That Help Prevent Churn
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See how we help the world’s top brands tackle churn prevention with consistent personal connections. Get in touch today and we’ll show you how.Related Articles
How To Reduce Customer Churn With Personalization
When something is broken in your business, it can be difficult to come together as a team and identify the root of the problem. In the case of customer churn, however, there’s a strong consensus among industry experts who say that your broader customer experience strategy has a profound impact on your retention rate. According to Gartner, CX drives over 66% of customer loyalty, more than price and product combined. That includes everything from onboarding to customer service. It’s whatever makes your experience unique from your competitors. And as you’ll read below, reducing customer churn requires a customer-centric approach, enriched through personalization and a strong CX. While churn is often overlooked, secretly undercutting your bottom line, if you’re here, you know it’s a problem. We’ll dig into causes and solutions below, leave you with a few next steps for churn prevention and, even better, build a roadmap to strengthen customer
Earning Customer Loyalty Starts With Personalized Marketing
With customers having an abundance of choices at their fingertips, earning their loyalty is essential for any business aiming to thrive. After all, loyal customers are 50% more likely to try new products and spend 31% more than new customers. Securing a loyal customer base not only fuels business growth but also serves as a powerful competitive advantage. Don’t you want customers who not only choose your brand but stay loyal to it, returning again and again? They become your cheerleaders, your ride-or-die fans. Sounds like a dream, doesn’t it? Well, turning that dream into a reality starts with personalized marketing. By putting the customer at the center of their marketing efforts, brands can forge deep and lasting connections that go beyond transactional interactions and build brand loyalty amidst the noise and constant distractions. In this post, we’ll explore the transformative power of personal marketing and how it acts as
The ROI of Personalization – Here’s How It Pays Off
The marketing industry has moved beyond questioning whether or not to personalize. I think we can all unanimously agree that not personalizing your marketing efforts is a pretty serious oversight. The numbers don’t lie. Not only do 71% of consumers now expect companies to deliver personalized interactions but 76% actually get frustrated when it doesn’t happen. Clearly, there’s a major opportunity for brands to rise above the competition by delivering exactly what customers want. With rapidly innovating technology, almost any type of media can be personalized. From homepages to email copy, recommendations to loyalty discounts, sales funnels to Personalized Videos, you can personalize the living daylights out of pretty much anything as long as you have the data and it fits your goals. A lot of you may start to worry when you hear the word “personalization.” It means more work, more hassle and more room to mess up, right?
5 Surprising Ways Video Marketing Can Improve Customer Retention
If you’re looking to improve your customer retention rate, video marketing might just be your secret weapon. We’ve talked about it before. Customer engagement positively impacts ROI, with fully engaged customers more likely to stay loyal and spend more money over time. And here’s where video comes: It’s one of the best tools you can use to build and maintain that engagement. People are drawn to video because it’s dynamic, entertaining and easy to digest, making it the perfect medium to engage your audience. Instead of just telling them why they should stick around, you can use video content to give them a reason to. Think about it this way. If you had to pledge your loyalty to a particular friend, wouldn’t you choose the friend that regularly connects with you? The one who shares exciting updates, offers helpful advice and adds value to your life? The same goes for
What the World Would Be Like Without Marketing Personalization
Imagine, if you will, a world without marketing personalization. A world where, regardless of how many times you interacted with a company, no matter how frequently you set preferences and shared data about yourself, you weren’t treated like an individual. Heck, you weren’t even remembered. Can people live without marketing personalization? For some companies, this is the reality they deliver to people every day. There’s no brand connection, no “thanks for your business” or incentive to come back. Despite 74% of consumers believing brand loyalty is about feeling valued and understood, some brands don’t care about creating relationships with their customers and, in return, their customers look elsewhere for better service. But, of course, this isn’t you. You want to offer your customers a unique, data-driven, individualized brand experience. You want to deliver incredible solutions that make their lives better. It’s why you’re here reading this blog post. It’s why
Gamification in Retail: The Interactive Trend Driving Loyalty and Sales
Gamification might sound like another one of those marketing catchphrases of the moment, but behind the hype is a legitimate trend that’s driving loyalty and sales. And it’s only growing in popularity. Turning something into a game to encourage the right behavior is nothing new. Chances are if you think back to the chore charts and stickers of childhood, you can see how parents and educators have been using games to make everyday tasks appealing for years. Now, brands have perfected the art. From enterprise-level corporations to boutique brick-and-mortars, retailers of all sizes are finding ways to gamify their customer experience to increase engagement and, ultimately, improve sales. Here’s everything you need to know about this method for increasing brand loyalty and revenue. What Is Gamification? Gamification applies game concepts to everyday business activities. It’s the art of creating a set of challenges and rules that an individual must navigate
How To Calculate Retention Rate: A Beginner’s Guide
If you want to evaluate how effective your customer service program is, simply take a look at your customer retention rate. To put it simply, the definition of retention is keeping your customers. More broadly, it includes the actions brands take to reduce customer churn. The retention rate meaning, therefore, is a measure of the effectiveness of those actions. Calculating your retention rate is the quickest, simplest and most accurate way to track how healthy your current customer base is, and it’s a good way to predict future growth. But why should you learn how to calculate customer retention rate when there’s a whole world of new potential customers out there waiting for your next brilliant advertising campaign? Here are some stats that might surprise you. The Value of Retention It can be tempting to focus more on acquiring new customers than keeping your current ones — but there are
Churn Management: How To Prevent Customer Loss
Churn management is an important component of any business. Research shows that it’s 5x-6x more expensive to acquire a new customer than it is to simply retain an old one, underscoring the importance of preventing churn by keeping your current clients happy and engaged. To help your business drive long-term loyalty, we’ll cover how to perform and optimize churn management by analyzing data from past interactions with customers. We’ll also cover various ways that you can use churn management techniques within your organization, including improving customer satisfaction, measuring customer loyalty, identifying problem areas within your business and implementing effective retention strategies. Whether you’re looking to build a loyal customer base or aiming to enhance your retention efforts, this guide will provide you with the tools and knowledge needed to keep your customers coming back. Want to watch instead of read? Check out the overview view below, made in minutes from
The Ultimate Guide to Personalized Video
From reducing service calls by 30% to uplifting conversions by 9x, we’ve seen firsthand how Personalized Video can improve the customer experience and drive real results for businesses. While Personalized Video is undeniably transforming how we connect with audiences, the concept can be a bit confusing at first. Is it just adding someone’s name to a video or is there more to it? Who can leverage Personalized Video and what do you need to launch campaigns effectively? No worries — we’ve got you covered. This guide will demystify Personalized Video, explaining what it is, what it looks like and how you can use it to connect with your target audience in a truly unique way. Ready to dive in? Here’s everything you need to know about Personalized Video. What Is Personalized Video? Picture a video that speaks directly to you — literally. It greets you by name, shows content tailored
Personalization in Health and Wellness: 7 Digital Trends Reshaping the Industry
Personalization is no longer an option when it comes to customer communications. Recent research has revealed that an overwhelming 82% of customers cite personalized experiences as a key driver in their brand choices. And this trend holds particular significance in an industry like health and wellness, where every person’s journey is unique and deeply personal. Whether you’re a gym, a doctor’s office or a health insurance company, your customers already expect 1:1 attention. This is about their health, after all. Every touchpoint, from the front office to a bill explainer, needs to make that person feel like you know and understand their individual needs. Take a look at these results about personalization in healthcare from a recent survey. 54% of consumers think healthcare providers and insurers aren’t doing a good job personalizing healthcare recommendations. 75% of patients want deeper personalization in healthcare. 61% would visit their provider more often if
Why Is Customer Engagement Important? The Hidden Tie to ROI
In today’s fast-paced and constantly evolving business landscape, customer engagement has become more vital than ever before. It’s no longer enough to simply attract customers. Businesses must now find ways to actively involve them, fostering a relationship that goes beyond the initial purchase. According to a report by Harvard Business Review Analytics Services, 92% of companies consider having effective customer engagement “extremely critical” or “very critical” to their organization’s success, with 88% agreeing that customer engagement has a significant impact on their organization’s bottom line. But what exactly is customer engagement and why is it so essential? Let’s talk about that. In this post, we’ll explore the impact that improving customer engagement has on ROI. We’ll also break down the challenges companies face in fostering engagement and cover the most effective strategies for increasing customer engagement. How Customer Engagement Influences ROI First, let’s define customer engagement. Think of customer engagement
7 Tips for a Personalized Year-in-Review Video
For many, the new year is an opportunity to look back at memories made — the good times, the big wins, maybe some lessons learned. It’s a period of reflection and celebration, and tapping into this sentiment is a great way to create deeper connections with your audience. With the massive amounts of data brands now have access to, the potential for creating highly personalized and impactful content has never been greater. Video can be a great way for brands to get in on the action. Personalized year-in-review videos help you engage customers with relevant, data-driven content they’ll want to watch and share with friends. Don’t know where to start? We’ve compiled a list of our top tips for smart personalization when it comes to this popular trend. Whether you’re looking to boost customer engagement or improve customer loyalty, these tips will help you craft year-in-review videos that aren’t just
Why Loyalty Programs Need To Be Personalized
These days, it’s commonplace to make a purchase at a shop, cafe or online store and get asked to join its loyalty program. Many times, these programs are enticing. Getting perks for simply continuing your spending habits seems like a no-brainer and is probably why U.S. consumers hold more than 3.8 billion memberships in these kinds of programs. At the same time, companies are more than well-aware of all the benefits they get from implementing loyalty programs. After all, what’s better than having customers that wholly trust and recommend your brand? And this is true beyond retail. Think of hotel loyalty programs or rewards credit cards.
7 Hyper-Personalization Examples From Brands Who Got It Right
Your inbox dings. “Happy birthday,” your dentist says. But before you can even react, here’s another alert. Chewy’s got a treat for Bark Ruffalo, your goldendoodle. Another day, another marketing strategy. It’s one more email with your name slapped in the greeting, and it’s fast losing its shine. It’s no surprise to see your name (or your dog’s) in an email anymore. It’s not personalized enough to take up real estate in our brains. Enter companies using hyper-personalization strategy to engage customers. The goal of hyper-personalization is for your customers to feel that your brand knows them just like a person would know them. First, let’s define this buzzword — hyper-personalization. Then, we’ll check out 7 stellar examples of hyper-personalization used by bold companies open to experimenting with it. What is Hyper-Personalization? Consider hyper-personalization your favorite barista. They’ve memorized your name (and its correct spelling). They also know your exact
A Beginner’s Guide to Understanding Churn Models
In business, success isn’t just about scoring new customers — it’s also about holding onto them. Unfortunately, customer churn exists as a challenge to this goal. Also called customer attrition, churn refers to your customers saying sayonara to your brand. So much more than just a statistical metric, your churn rate is a major indicator of brand health. Churn chips away at your brand’s strength and hinders its growth potential. To keep your business in tip-top shape for the long haul, you need to size up this enemy, predict its next moves and hit back with countermeasures. Thankfully, recent tech advancements have simplified this task with churn prediction models. In this post, we’re breaking down what churn models are and how they can help you retain your most precious asset: your customers. But first, let’s talk a little bit more about churn, retention and how they’re connected. Customer Churn vs.