What is Customer Retention Management?
Customer retention management encompasses the actions you take to encourage your customers to remain loyal to your brand over a long period of time.
Customer retention is the heart of Customer Success. Retention describes the situation where a customer doesn’t actively cancel when they could. These actions have many forms, such as improving the product to reflect customer feedback or holding a customer meeting to hone in on the goals a customer feels they are or aren’t achieving with your product. To create the most impact, an effective customer retention management strategy will base their actions on customer data.
Gainsight for customer retention management
Gainsight’s Customer Success platform is equipped to boost your retention efforts. It aggregates data, such as product usage and support tickets, to create a customer health score that gives account owners the confidence to say, “This person is not at risk of churning,” or, “This person is in danger of churning, let’s use this data to prevent that.”
With Gainsight, you can:
- Get a multidimensional view of customer health with Customer Scorecards
- Receive alerts on abnormal patterns of customer engagement, such as usage drops, sponsor departures, low survey scores, or excessive support tickets
- Creates best-practice playbooks that account owners can follow to resolve risks
- Stay on the pulse of customer sentiment with Net Promoter Score (NPS) surveys and more
With the data collected in Gainsight, you can create customized retention management strategies to reduce churn and help your users achieve success.
Learn more about Customer Retention Management:
- Gainsight Glossary – How to Improve Customer Retention
- Gainsight Glossary – The Importance of Customer Retention Strategy