#47 How to Increase Your Startup’s Customer Retention Rates

01/12/21 • 16 min

In this episode of the Marketing Slice by Hurree, Content Marketing Executive, Dominique, will be looking at How to Increase Your Startup's Customer Retention Rates.
What is Customer Retention?
Customer retention is the process of turning new customers into returning customers using various tactics that foster positive customer relationships.

Customer retention is incredibly valuable to startups as returning customers spend 33% more on average than new customers due to brand familiarity and the potential for upselling.
Why do startups fail at Customer Retention?

Lack of time invested
Thinly spread budgets
Over-focused on acquisition
Poor target-audience fit

In this episode, we will discuss how startups improve their customer retention rates in 2021:

> Create omnichannel experiences 🌐
> Reward loyalty (digitally) ⭐
> Create personalised content (beyond merge tags, please) 💌
> Be flexible and pivot when needed (Covid19 taught us that) 🏽
> Be customer-focused with billing and pricing 💵

For the hows, whys, and some killer examples, why not check out the full blog post: https://lnkd.in/eE4Cm5M
If you’re struggling to become an omnichannel brand, why not book a demo of Hurree’s data unification and segmentation platform here or email any of your questions to me at [email protected]. It’s time to get your tools talking and we can help you do it!
If you liked this podcast then you can subscribe for free via any podcast app or on Spotify. Feel free to share with a friend if you feel they might enjoy it! And don’t forget, you can find other resources like guides, videos, blogs and infographics over on our website at www.hurree.co. Thanks for listening!

Lack of time invested
Thinly spread budgets
Over-focused on acquisition
Poor target-audience fit

In this episode, we will discuss how startups improve their customer retention rates in 2021:

Previous Episode

#46 What is Social Media Marketing & What are the Benefits?

In this podcast, we’re going to be asking the question: What is Social Media Marketing & what are the benefits for your business?

What we will cover:

the history of social media
social media and its relationship to brands
the fundamentals of social media marketing
5 main benefits of social media marketing
5 pillars of social media marketing

So, what is social media marketing?

Well, Social media is a term used to describe websites and applications that facilitate the creation and sharing of content by users.
Social media marketing came about when the owners of these sites realised there was money to be made from advertising on their platforms.
Over time, this tactic gained popularity and became the money-making mammoth that we know today.

Social media marketing is the practice of using social media to find and connect with your audience, build your brand, and drive revenue. To succeed at social media marketing, brands must create authentic content tailored to their audience’s needs and interests, track the engagement rates of that content using analytics, and use this data to improve continuously.

5 benefits of social media marketing:

Increase trustworthiness and brand recognition
Increase levels of customer service and satisfaction
Foster online community and tell authentic stories
Become part of the zeitgeist
Increase revenue with social commerce

If you’re struggling to become an omnichannel brand across all your channels, why not book a demo of Hurree’s data unification and segmentation platform here or email any of your questions to [email protected]. It’s time to get your tools talking and we can help you do it!

If you liked this podcast then you can subscribe for free via any podcast app or on Spotify. Feel free to share with a friend if you feel they might enjoy it! And don’t forget, you can find other resources like guides, videos, blogs and infographics over on our website at www.hurree.co. Thanks for listening!

Next Episode

#48 - How to Maximise Millennial Marketing with Demographic Segmentation

Welcome to the marketing slice by Hurree, the show where the team at Hurree give you marketing insights, hints, and tips that will help you improve your results right now.
In today’s podcast, we’re discussing How to Maximise Millennial Marketing with Demographic Segmentation. We also have associated guides, videos, blogs, and infographics that can all be found at www.hurree.co. What are HENRYs?

In demographic segmentation, the acronym HENRY means High Earning, Not Rich Yet. According to The Wise Marketer, a HENRY is “under 55 years old with an annual income between $100K and $250K, but that has not amassed investable assets of $1M”. Between 2012 and 2017, this segment of the population grew by 26%, meaning that roughly 36 million households fall into this category.

Given that 27% of HENRYs are millennials, this affluent subgroup is a highly powerful market to delve into. The U.S. Chamber of Commerce estimates that millennial HENRYs have a purchasing power of approximately $200 million directly, and $500 million indirectly through parental-spending influence.

To hack this demographic you will need to understand the following areas of marketing:
1. Mobile-first marketing
2. The power of personal branding
3. Creating an experience
4. Tackling social justice issues
5. Fostering brand loyalty
If you liked this podcast then you can subscribe for free via any podcast app or on Spotify. Feel free to share with a friend if you feel they might enjoy it! And don’t forget, you can find other resources like guides, videos, blogs and infographics over on our website at www.hurree.co. Thanks for listening!