A warm welcome message for the customers gives a sense of caring and makes them feel appreciated.
According to research by Harvard Business School, increasing customer retention rates by only five percent increases profits by 25-95 percent.
Besides concerns of pure profitability, customer retention is one of the best ways to measure how reliably your company is providing its services.
A positive first impression is important in forging a strong relationship with potential customers. Welcome messages are a great strategy to be part of the customer journey, better understand them more, and provide the product or service successfully.
A warm welcome message for the customers gives a sense of caring and makes them feel appreciated. Nurturing customer relationships is a crucial part of a successful business. How you leave customers feeling becomes your business trademark.
According to a study conducted by Invesp, 89 percent of businesses “see customer experience as a key factor in driving customer loyalty and retention.” Customer retention is an incredible and indispensable part of any sustainable business.
According to research by Harvard Business School, increasing customer retention rates by only five percent increases profits by 25-95 percent.
Besides concerns of pure profitability, customer retention is one of the best ways to measure how reliably your company is providing its services.
Strong customer retention rates can also be a great driver of customer acquisition, through referrals and the case study evidence you can provide to potential customers.
When it comes to revenue, customer retention is immensely vital to consistent growth and financial planning. The more committed customers you have, the easier it becomes to budget.
Other great numbers that were compiled by Invesp is that 16 percent of organisations see Customer Lifetime Value as “an important concept for their organisation.” Customer lifetime value is a prediction of the total profit generated by a customer over a projected period of time.
The success rate of selling to a customer you already have is 60-70 percent while the success rate of selling to a new customer is 5-20 percent.
A good welcome message acts as a strong foundation for long-lasting customer relationships.
In fact, the power of positive words and phrases for customer service is incomparable as it builds loyalty and trust.
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