Retain your customer base through a recession
No one likes to lose customers. And for many businesses that made the shift to operating online during the pandemic, it’s been a challenge to connect with customers on a personal level. We’ve learned that we can be hindered by the tools we use to connect, or greatly aided by them.
Fortunately, there’s a wide range of digital platforms that can help you understand your customers in a deeper and more meaningful way. And developing customer loyalty can really pay off: According to research done by Frederick Reichheld of Bain & Company, increasing customer retention rates by five percent can boost profits by more than 25 percent over time.