Does your newspaper want to retain more subscribers? A customer retention program is the best way to increase subscriber retention, reduce turnover and grow your revenue.
Research by Harvard Business Review found that an increase in customer retention by 5%, can lead to an boost in profit by 25%-95%. That’s a serious statistic that shouldn’t be snickered at.
More research by John Fleming and Jim Asplund found that engaged customers generate 1.7x’s more profit for businesses than normal customers, while having more engaged employees and more engaged customers returns a profit of 3.4x’s the norm.
These two studies show clearly that paying special attention to customer retention and keeping customers engaged can add significant numbers to your bottom line.
To increase customer retention, you want to implement a customer retention or subscriber retention program.
GoalGetters offers a proven customer retention program that will reduce churn, boost your customer lifetime value, boost your subscriber retention and increase your profits.