Considering it costs five times as much to attract a new customer than it does to keep an existing one, it's safe to say customer retention should be a top priority for any business. The first step in creating a strong retention strategy is to identify why customers are leaving. It's easy to speculate. Probably because they were dissatisfied with your product offering, right? Not necessarily.
Your online reputation can make or break your business. It’s crucial not only to cultivate a collection of unbiased customer-driven content about your brand online through reviews and testimonials, but also to make sure your brand is an active, engaged part of those conversations. Being transparent enough to publicly solve customer concerns is how you build a trusted brand reputation, and it can go miles toward attracting and converting new customers.