Client Retention Strategy
Research shows that it is more costly to acquire new clients than to retain existing ones. Hence, today client retention is a key marketing strategy to reduce costs and increase profits.
Gainsight, the leading customer success management company, focuses on retaining profitable clients than spent time on acquiring clients who may turn unprofitable in due course of time. It puts in place an effective client retention strategy to foster customer relationships and convince customers to stay.
Important aspects of Gainsight’s client retention strategy:
- Evaluate and analyze client transactions, behavior and cross-channel interactions to identify clients who are most likely to defect
- Build, nurture and retain client relationships to understand customer intent and interests
- Track and measure client retention campaigns to assess effectiveness
- Offer incentives to improve retention and maximize profitability
- Enhance the lifetime value of clients by improving customer experience and satisfaction
Gainsight knows that an effective client retention strategy can change the fortunes of a company. It leverages customer intelligence and automation to ensure client retention and churn reduction.