Mobile Solutions for Customer Retention
Understanding customer preferences is critical to retention and loyalty. Traditional post-purchase surveys can be useful, but not unless they engage a significant number of customers. Communicating to customers via multi-channel mobile helps engage customers, and enables enterprises to target polls and quizzes to specific user segments.
Enterprises know that retention and loyalty are critical parts of the customer lifecycle. Yet today, with mobile penetrating the entire lifecycle, companies must include multi-channel mobile in their retention strategies. A retention strategy that increases customer loyalty by just 5% can increase profits by as much as 95%.
It’s easy for a company to lose between 10% and 30% of its customers every year. But an effective customer retention strategy can turn that around, enabling the company to reap the benefits of loyal customers: increased spending over the long term and new customer referrals.
Creating an effective retention strategy relies on understanding customer behavior and preferences. Unfortunately the most common method of eliciting customer feedback―the post-purchase survey―falls short. Despite the high cost of implementation, such surveys are really only useful as a quality control device, a means of validating that the customer lifecycle doesn’t have any broken parts. So while surveys may be effective at eliciting customer complaints, they do not provide insight that enables the company to foster stronger customer relationships, and stay in regular contact with the audience.
To achieve a higher engagement rate, the enterprise must communicate via the customers’ preferred channels―SMS, MMS, push, email and voice have the benefit of immediacy and ubiquity; the user is much more likely to engage with a mobile invitation to a survey than one that’s printed on a paper receipt. In addition, mobile invitations to surveys and other feedback mechanisms can be tailored for specific segments of the customer base.
Solution: Get to know the customer―really
OpenMarket’s Mobile Engagement Platform employs multiple communication channels to help you acquire and retain customers and enhance their overall customer experience. Through personalized surveys and polls sent by SMS, MMS, push, email and voice, you can target customers where and how they want to be reached. You can tailor the messaging to reflect individual preference, helping your enterprises gain deeper insights and build brand preference.
The Mobile Engagement Platform can also interface with existing CRM systems, allowing for targeted messaging based on user behavior. Reacting to customized message triggers, the platform can send time-sensitive follow-up surveys and polls to allow for real-time adjustments across the enterprise.
Multi-channel mobile communications will open up many new avenues for staying in touch with customers.
Benefits: Better survey results, better customer retention
OpenMarket’s multi-channel platform brings new and potentially powerful ways to learn about and connect with customers, allowing enterprises to:
- Deploy SMS, MMS, push, email and voice communications, depending on customer preference
- Increase customer retention rates, reduce churn rates and lower customer acquisition costs
- Improve the customer experience by receiving more relevant, time-sensitive customer feedback
- Personalize communications
Mobile Engagement in Action: Survey says, “Go mobile.”
A man purchases a camera from a new online store. As he’s checking out, the man receives a digital receipt with a prompt to participate in a quick survey aimed at measuring the ease of the checkout process. As a thank-you for participating, the Mobile Engagement Platform sends him a mobile coupon to use on his next purchase. Data collected through the Mobile Engagement Platform is readily sharable with store managers, allowing for timely store-level adjustments, when and if necessary.
Find out how the OpenMarket Mobile Engagement Platform can elevate your poll and quiz experience.