Fix the “leaky bucket” to increase profits.
In a difficult economic climate, it is especially important to retain current customers in order to achieve your sales and financial goals. A small improvement in customer retention can often have a big impact on your bottom line.
- What is my loyalty/retention rate?
- What brands and product types did our customers defect to most often?
- Why did they choose a competitor brand instead of ours?
- Of those that repurchased us, what motivated them to stick with our brand?
- And, if you choose to include competitor brand owners in the analysis, you can also determine how your retention rate stacks up to the competition and why some competitor owners switch to your brand
This information will enable marketers to determine how rapidly their bucket is leaking and uncover ideas for how to plug the holes.
The cost is $4,995 for the first brand plus respondent recruitment and incentives. Each additional brand is $2,500 extra.
To find out how increasing your retention rate can improve your bottom line, check out our retention impact calculator.