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Marketers look to boost customer retention

HIDDEN "BAD STUFF'

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Karrat said one of the problems with such high growth is that “bad stuff can get hidden in the good numbers.” “Order volume is not the only measure of the customer relationship,” he said. The company uses a combination of standard metrics, such as frequency of use, frequency of orders and shopping cart dropoff, as well as free-form questionnaires to measure customer satisfaction. Mimeo.com has rolled out new services and products based on the findings of its customer surveys, including a service called Marketplace that lets customers present documents to their clients in a storefront environment. Mimeo's retention rates are greater than 90%, but the company still aims to improve performance. “We're trying to make sure we see the good things we're doing, and repeat them and catch any problems,” Karrat said. When asked what their companies were doing to improve customer retention, 65.2% of marketers surveyed in the CMO Council study said improving customer communications; 54.8% said enhancing the customer experience; and 51.8% said addressing complaints, problems and pain points. The marketers also said they need to do a better job of integrating customer data within their organizations. M
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