- 20 Jun
Upselling Can Help Stem Churn and Increase Retention: Study
Churn. It is a word that strikes fear into the hears of every SaaS and subscription based business leader. And yet, it is a reality of life for them. Some will see year-over-year subscriber increase, only to have customers leave unexpectedly. That is called churn and it can make the difference between success and failure for a tech startup in that space.
So, How Can the Churn Issue Be Solve?
To answer this question, Vendasta conducted a study [original report]. They looked 100,000 SMB client accounts and uncovered some surprising conclusions. The most surprising is that selling those at-risk customers more, can be key to reducing customer churn. As it turned out, upselling customers within the first three months of their contract can help companies stem churn and increase retention by 30 percent.
To see more of the conclusions from this report and to learn the three key strategies for better customer retention read the full article at ChiefMarketer.com
- 08 Mar
How to Boost Customer Retention With Web Push Notifications
by Megha Rajeev
Currently, only 8.5% of decision-makers in marketing consider customer retention as their top priority. Yet, returning customers not only bring in twice as much revenue as new customers but are also more likely to recommend you to others.
They Cost Less and Yield Higher
They also spend more time on your website and give a higher conversion rate. It is old news that marketers who work on retention marketing see an ROI of up to 15x. This is compared to the 4 to 6x ROI for new customer acquisition campaigns.
So how do you up your retention game without investing too many resources in setting up a new channel? This is where Web Push Notifications come in. And to learn how you can make them work for you, read the full article on Jeffbullas’s Blog.