Customer retention and loyalty

Increase your revenue by taking a data-driven approach to building customer loyalty and achieving high retention rates

Customer retention and loyalty

Why you need to care about customer retention and loyalty

Keeping retention and loyalty at the center of any marketing strategy is essential to keep customers satisfied, happy, and spending.

A recent Gartner report also reveals that 80% of a company’s future revenue will come from just 20% of its existing customers.

These reports make it clear that paying no attention to retention marketing and solely focusing on customer acquisition can result in customer churn, which ultimately affects the bottom line. Coming up with loyalty programs to increase the retention rate and reduce the customer churn is not enough, until these programs are personalized according to your customer’s expectations.

How Softweb helped a retailer increase customer loyalty

SIA, Softweb’s Intelligence and Analytics platform, enables companies to monitor customers’ behavior and buying patterns. Customer segmentation is done based on the previous purchases and how frequently they visited the client’s website. Our data team uses AI algorithms to analyze a bulk of unstructured data that was gathered through text messages, e-mails, voice recordings, surveys, and social media posts.

After getting insights from customers’ data, businesses will be capable of sending personalized promotional messages and building customized loyalty programs for customers, based on the segment they belonged to. Also, they will be able to adopt a more personalized approach to address customers’ issues.

How online as well as brick-and-mortar retailers can benefit from AI-driven retention techniques

  • Improved customer retention and an established loyal customer base.
  • Ability to predict future purchases by analyzing customer buying behavior.
  • Ability to plan promotions for reactivation after detecting inactive customers.
  • Increase in sales and revenue, as the number of customers increases consistently.
  • Happy and engaged customers.
  • Enhanced shopping experience for customers as clients suggested products based on customers’ taste and preference.

SIA

Softweb Intelligence and Analytics platform, or SIA, is opening new doors of opportunities for businesses to make more data-driven decisions at higher accuracy rates, completely changing the way that businesses operate.

Talk to us about your data complexities and let SIA address them