Managing your customer retention rate is an incredibly important part of growing a sustainable business. The average business loses around 20 percent of its customers annually simply by failing to attend to customer relationships. In some industries this leakage is as high as 80 percent. The cost, in either case, is staggering, but few businesses truly understand the implications.
Using the platform, marketers can create an integrated loyalty environment where existing customer's interactions are monitored across all touch-points and the aggregated insights can help engage customers for repurchases. Based on scoring, you can set alerts when the customer is drifting and implement necessary strategies to win back the customer.
Enabling real-time personalization campaigns like cycle-based or upsell campaigns has resulted in great retention rates among retail businesses who have implemented Plumb5.