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customer retention

How Brands can Amplify their Customer Retention Strategies for Gen Z Consumers

Gen Z refers to the group of population who were born in the years ranging from 1995 to 2010. This generation is known to be the true digital natives as they have been exposed to the internet, social networks, and mobile systems from the earliest stages of growing up. Gen Z is projected to account for almost half of the total U.S. consumers by 2020. This means that brands now have a new set of customers to target whose needs and behavior are much different from their predecessors. As this group of consumers are nuanced and highly complex, tried and tested customer retention strategies often fail to win the loyalty of these young and powerful consumers.

The younger generation has become potent influencers for different age and income groups and even play an important role in the way consumers relate to brands. Gen Z consumers tend to value individual expression and avoid labels. They are also believed to make decisions and relate to companies in highly analytical and pragmatic ways. According to experts at Infiniti Research, brands must include the following tactics into their customer retention program in order to win over Gen Z consumer.

The increased access to technology has given young consumers an unprecedented degree of connectivity. For brands, this trend will bring both challenges and equally attractive opportunities. RFP to know how our experts can help you identify market opportunities and build better customer retention strategies.

Customer retention strategies for Gen Z consumers

customer retention strategies

Invest in loyalty programs

One of the most crucial customer retention strategies that forward-thinking brands must consider is to invest in a customer loyalty program. Otherwise, sectors including media, retail, beauty, and CPG are at high risk of losing customers to their competitors. Gen Z is more likely to be loyal to brands that have loyalty programs when compared to millennials.

Be where the customers are

Gen Z is known to be highly active on social media and other digital channels. So, brands must base their customer retention strategies around these platforms. These consumers are also equally active offline. They expect to be able to check the availability of in-store products online and vice versa. These consumers are more likely to research a product before actually making the purchase. By investing in customer retention strategies like loyalty programs, brands can incentivize across different channels.

Formulating customer retention strategies for Gen Z customers is much more complex when compared to millennials or Gen X consumers. Get in touch with us to know how Infiniti’s customer retention solution can help you identify strategies to attract and retain different customer groups.

Rewards for spend and engagement

Creating value by rewarding both spend and engagement is one of the most attractive customer retention strategies that top companies are looking at. Brands must ensure that their reward for spend strategy is frictionless across multiple channels. Such tactics are great customer retention strategies as they not only ensure customer engagement, but they also make things more convenient for customers.

Personalization using data

One of the key imperatives for effective customer loyalty and retention is to gain an in-depth understanding of the customers. To do this they need to continuously gather data about their customers across channels and use this data to identify customer needs and create better marketing strategies. Gen Z consumers are generally more willing to participate in surveys, provide their feedback on a service or a product, and socially connect with brands. Every brand that wants to capture the Gen Z audience must leverage data to offer personalization to customers and drive brand engagement and customer loyalty.

Learn more about Infiniti’s solutions for business

Customer satisfaction analysis

Packaging Company Improves Customer Retention with Infiniti’s Customer Satisfaction Analysis

Customer Satisfaction Analysis for a Packaging Company

Packaging directly influences purchasing intent and customer satisfaction. A recent study shows that customers are 20% more likely to purchase and use products if they are happy with the packaging. This is pressurizing companies in the packaging industry to innovate packaging by focusing on not only on the appearance, but also their functionality and safety. Moreover, as packaging is key to brand image, product trials, and repeat purchases, companies in the packaging industry are also forced to constantly measure customer satisfaction and make changes in their processes to enhance brand loyalty and customer retention. This is where companies realize the importance of leveraging customer satisfaction analysis.

Are you interested to know how satisfied your customers are with your products or services? Our customer satisfaction analysis can help. Request a FREE brochure to learn more about our services and other benefits of leveraging customer satisfaction analysis.

Business Challenge

The client is a global player in the packaging industry based out of Ireland. The company supplies packaging products to pharma, healthcare, and food industry. The client noted a dip in their sales rate due to their inability to adapt to rapid market changes. Also, lack of market access and advanced technology were making it more difficult for the company to satisfy their customers’ needs and requirements. The packaging company also started losing customers to their competitors.

The client, therefore, approached Infiniti Research to leverage their expertise in offering customer satisfaction analysis solution. With Infiniti’s customer satisfaction analysis solutions, they wanted to assess the changes in their customers’ behaviour and understand their needs to devise value maximization strategies to enhance the customer experience.

By leveraging Infiniti’s customer satisfaction analysis, the client also wanted to:

  • Understand the reasons behind customer churn and identify the market requirements
  • Identify competitors’ unique strategies that drive customer satisfaction
  • Identify the needs and requirements of customers regarding packaging
  • Understand the satisfaction rate of customers regarding various packaging materials
  • Understand the common characteristics of customers to target their unique needs
  • Understand customers’ perspective and build capabilities to gain a leading edge compared to their competitors

Solutions Offered

To help the client gain detailed insights into their customers’ requirements and measure customer satisfaction level, the experts at Infiniti Research conducted a customer satisfaction analysis. The factors such as customers’ needs, buying patterns, and reasons for customer churn were analyzed. Also, the experts analyzed the strengths and weaknesses of their competitors to build value maximization strategies to enhance market share.

Infiniti’s customer satisfaction analysis helped the client to improve their products according to customers’ requirements. The customer satisfaction analysis further helped the client to realize the increasing demand for sustainable packaging. This helped the client to focus more on sustainable packaging materials to drive sales. Also, the client was able to differentiate their product offerings according to customers’ needs and demands. This increased customer retention and gradually resulted in higher outcome for the company. With Infiniti’s customer satisfaction solution, the client was also able to enhance customer lifetime value. Moreover, customers’ suggestion for product improvement enabled great improvements in sales for the company.

Request a FREE proposal to know how our customer satisfaction analysis can help you improve customer loyalty and identify best practices to reduce customer churn.

Importance of Customer Satisfaction Analysis for Packaging Company

BENEFITS OF LEVERAGING CUSTOMER SATISFACTION ANALYSISWith rising customer expectations and demands, customer satisfaction analysis is becoming important for companies in the packaging industry to understand customers’ perspective of their products and services. Also, recent studies show that packaging directly influences customers’ buying behaviours and satisfaction levels. Therefore, it becomes imperative for packaging companies to leverage customer satisfaction analysis to understand customer’s evolving needs and adapt to today’s competitive marketplace.

CONTACT US to learn how customer satisfaction analysis can help you understand your customer’s experience with the brand.

customer retention strategies

Supercharging Your E-Commerce Business with Proven Customer Retention Strategies

Customers are the lifelines of business, irrespective of whether it is a brick and mortar store or an ecommerce business. According to industry experts at Infiniti Research, more than half of a company’s future revenue will come from approximately 20% of their existing customers. Furthermore, it is always wiser to lay greater emphasis on using customer retention strategies to retain existing customers, as attracting new customers could cost a company five times more. In the absence of strong customer retention strategies, companies will struggle to establish a strong customer base, eventually causing profits to tumble. By implementing customer retention techniques for online and in-store platforms, businesses can effectively encourage customers to keep coming back for more, by creating positive, personalized, and innovative experiences.

How to retain customers: 4 proven customer retention strategies

Launch win-back campaigns

Win-back campaigns involve contacting customers from whom you haven’t heard from in a while. This is an attempt made to win back these customers using highly targeted campaigns. This is one of the most popular customer retention strategies among several old-school direct response marketers. Timing is a crucial factor in the effectiveness of such customer retention strategies. E-commerce companies must try to win back customers as early as possible by offering attractive rewards and discounts. In order to get the timing right, it is essential to understand the frequency of purchase of the buyers. If on an average, customers order every 2 months, then it would be beneficial to implement a win-back campaign around the 60-day mark.

Before formulating your customer retention strategies, it’s critical to first and foremost understand who your customers are, and which of their actions matter to your site. Request a free proposal to know how our customer intelligence solution can help you identify your target customers.

Loyalty programs

The primary idea behind a loyalty program is simple, reward your customers for frequent purchases. Customer retention strategies like giving out loyalty points is highly effective and is commonly used by several successful companies. E-commerce companies can also benefit from such customer retention strategies. Although implementing a loyalty program does not guarantee increased sales, but when combined with a competitive product and great customer service it can play a key role in increasing sales and improving customer retention. Furthermore, it may be difficult to attract new customers into the loyalty category. However, offering some surprise loyalty points with their first purchase can one of the effective customer retention strategies to ensure repeat purchases. Get more info on how our solutions help you build customer relationships and promote customer loyalty.

Subscription-based business model

Many e-commerce companies are known to resist the subscription-based business model. But before dismissing the idea completely, companies must consider the fact that if a person has been buying the same supplement every month for several years, giving them the opportunity to save time and money by subscribing to regular delivery would turn out to be favorable. If they are able to pull this off, it means that the business would gain the benefit of recurring monthly revenue. When coupled with great customer services, customer retention strategies like monthly subscription guarantees a boost in the overall sales performance.

Every company wants revenue growth. But it is more important to achieve profitable revenue growth! That means minimizing churn and maximizing customer retention. The challenge is that customer retention strategies are not long-term, sustainable strategies. The better long-term, sustainable strategy is finding ways to make customers want to stay loyal to the brand. The million dollar question is: How do you make them want to stay? Request a free brochure to know how our customer intelligence solutions can help you find the answer.

Paid memberships

Offering additional perks through a paid membership is another highly successful customer retention strategy that is not only an additional revenue generating source for companies but also promotes customer loyalty. Take the example of Amazon prime which has been highly successful in getting customers to sign up to their membership program by offering exclusive benefits and discounts to members all year round. However, not every ecommerce company can be successful in implementing this model. To start off, they must have a loyal customer base and also serious thought and planning to implement it. If successful, paid memberships will reward loyal customers and increase their level of commitment to the business. Moreover, paying the small fee will give them yet another reason to come back and purchase from the company.

Get in touch with our industry experts and uncover new market trends and solutions to drive business growth.

customer satisfaction

Weekly Round-up: A Storyboard on Customer Satisfaction Analysis and its Importance in a Fast-Evolving World

LONDON: Infiniti Research, a leading customer intelligence solution provider, has announced the release of their new storyboard series on the benefits of leveraging customer satisfaction analysis for businesses.

In today’s rapidly changing business scenario, customers are more empowered and connected as they have access to information anytime, anywhere. This makes it vital for businesses to analyze customer behavior and measure customer satisfaction. By leveraging customer satisfaction analysis, companies can gauge the degree to which their product and service offerings meet or exceed customer expectations.

Infiniti’s customer satisfaction analysis has helped several organizations to glean customer insights and drive sales through growth, customer acquisition, and retention. Below we have listed some of the latest articles and success stories which will give you concrete reasons on why customer satisfaction is important for your company.

Request a FREE brochure to know more about our portfolio of customer satisfaction analysis services and their importance for businesses.

#1: Quintessential Guide to Measuring Customer Satisfaction: Most Fortune 500 companies today accept that analyzing customer satisfaction helps companies reduce customer churn. Today, organizations have no choice when it comes to satisfying their customers. Analyzing customer satisfaction has become vital for businesses. However, at this point, it is essential to explore customer satisfaction metrics. This latest article from Infiniti Research explains some of the best practices to measure customer satisfaction.

The Quintessential Guide to Measuring Customer Satisfaction

#2: Reducing customer churn with customer satisfaction analysis: Identifying and retaining profitable customer group is a daunting task for every business. Are you facing a similar challenge? Infiniti can help as they helped another client facing similar issue. With Infiniti’s customer satisfaction analysis, the client was able to understand the needs of their patients and improve their services. As a result, they were able to build more trust among their customers, which subsequently elevated patient experience and reduced customer churn.

Customer Satisfaction Analysis: Elevating the Patient Experience and Reducing Customer Churn for a Home Health Care Services Provider – Infiniti Research

#3: Customer satisfaction engagement enhanced customer lifetime value: Offering personalized services to customers is a real challenge. But, leveraging Infiniti’s customer satisfaction analysis can make a difference. This success story explains how measuring customer satisfaction helped the company offer personalized services to their customers and increase customer lifetime value.

Infiniti’s Customer Satisfaction Engagement Helped a Financial Services Provider to Increase Customer Lifetime Value and Decrease Churn Rate by 20%

#4: Enhancing customer experience for a retail company: Personalized customer experience is a proven method for organizations to improve sales and customer retention rate. But this is extremely difficult understanding customers’ demands and requirements. Find out how Infiniti’s solution has helped a retail store examine customer requirements and improve their standards of product offerings by bringing them in line with the demands of customers. This has further helped the company improve customer experience and loyalty.

Infiniti’s Customer Satisfaction Analysis Helps a Retail Store to Improve Customer Experience

#5: Enhancing customer satisfaction rating for an airline company: Obtaining meaningful insights from vast customer datasets is one of the most difficult tasks for businesses to perform. Infiniti has helped a leading airline industry client facing  similar business challenge. The analysis further helped the client generate insights around various relevant business aspects such as marketing costs and competitors’ impact on their customers, by using multiple optimization techniques.

How Infiniti’s Customer Satisfaction Survey Helped an Airline Industry Client to Improve Their Customer Satisfaction Ratings

Companies who have not yet begun tracking customer satisfaction level are dealing with increased customer churn. Are you one among them? If yes, request a FREE proposal to know how our solutions can help you in improving customer experience.

 

#6: Advantage of customer satisfaction surveys for a packaging company: Conducting customer satisfaction surveys can help businesses decrease customer attrition. Wondering how? By predicting customers that are more likely to churn and then developing the right proactive campaigns to retain them. Infiniti’s client adopted the same approach and gained insights on market trends that helped them make necessary adjustments in their product development approach and marketing strategies.

Indubitable Advantage of Customer Surveys for a Returnable Packaging Company: Understanding the Drivers Behind Customer Satisfaction and Loyalty

#7: Improving customer satisfaction level by 10%: Identifying high-value customers and proactively interacting with them are two essential components behind the success of every business. This success story from Infiniti Research highlights how our analysis helped a private banking firm meet the requirements of their customers through a targeted approach. Also, this study explains how the company developed effective marketing strategies to generate maximum value.

Customer Segmentation Study: How Infiniti Helped a Renowned Client in the Private Banking Sector Improve Customer Satisfaction Levels by 10%

#8: Customer satisfaction survey for a financial services provider: Customer satisfaction survey for a financial services provider proved to be very helpful in identifying customer data for actionable insights and paved a way for developing the right approaches. Also, this resulted in increasing customer experience and improving satisfaction levels. Read this success story to know how.

Global Customer Satisfaction Survey for a Leading Financial Service Provider

#9: Developing customer segment-specific action plans for an equipment manufacturer: We recently completed a study for a fuel handling equipment manufacturer. The company wanted to measure the satisfaction of customers regarding its products and services. By conducting a ‘voice of customer’ study, the experts at Infiniti Research helped the client develop customer segment-specific action plan to improve satisfaction rate.

Customer Satisfaction Study for a Fuel Handling Equipment Manufacturer

#10: Improving product and service quality: Embracing change is the only way by which companies can stay ahead of their competitors. Traditional research and customer surveys can no longer help. This success story highlights how the client was able to understand the key concerns of customers regarding their product and how they improved their product and service quality to drive greater satisfaction.

Customer Satisfaction Assessment for Fetal and Neonatal Care Equipment

CONTACT US to learn more about our services.

Market segmentation

Customer Retention: 5 Unique Ways to Keep Your Customers Hooked on

Customers are the most important assets for any thriving business. However, with cut-throat competition in the market today, retaining the existing customers is a serious challenge for brands. Customer retention often proves to be a less-expensive process for businesses when compared to customer acquisition. So, companies must seriously consider incorporating customer retention programs in order to prevent losing their valuable customers to the competition. Losing a customer means wasting 7x the resources used in converting them. Here is how to stop this from happening to your business:

Customer retention strategies for business

Create customer delight experiences

Implementing some unique, low-cost initiatives can go a long way in delighting customers and thereby building brand loyalty and customer retention. Companies can also use techniques such as finding milestones in the customer relationship and identify ways to reward customers. When a customer is rewarded by the company even through a small gesture, could go a long way to improve customer experience and offsetting the cost of the product many times over.Contact US

Follow up on customer interactions

A company’s relationship with their customers do no end with a sale or even with the after sale services. It is vital for businesses to go that extra mile and reaching out to the customers even after their issue with the product/service is resolved. Following up with the customers on an issue that has been resolved earlier is one of the best customer retention strategies that make customers feel connected to the business and is a great way to enhance their loyalty towards the brand.

Educate the customers

It is not only essential for companies to sell their offerings, but also in the process, they must educate the customers regarding the product/service. Sales become more effective when you have an existing relationship with a customer, and when you’ve already provided value. Customers tend to value brands that give them helpful recommendations or new information on products/services that will help them achieve better results. Customer retention rates are generally higher for companies which promote such practices.Request Proposal

Promotional targeting

The more businesses get to know their customers, the more they will tailor their approach towards each individual customer. For this companies need to have a clear idea of each customer’s purchase history and then determine what kind of offer will be most appealing to each individual. Such customer retention programs would help increase relevancy and keep your brand on your customers’ minds while they are making their shopping plans.

Invite feedback

Customer feedback is not only one of the most effective customer retention strategies for companies to assess their performance from the customer’s viewpoint but is also a great way to show their customers that their opinions matter to the business. This gives customers a sense of ownership with the business.


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Retail industry

Is CRM the Missing Jigsaw Piece for Struggling Companies in the Retail Industry?

CRM, or Customer Relationship Management, has been an unsung hero in the retail industry for a long time. However, recent years have seen a positive change in the attitude of retailers in this aspect, because customers have gradually established their position as ‘the king’ in the market. Due to this change, leading players in the retail industry have realized that the deciding factors for their survival in the market are customer satisfaction and retention. This is where the role of CRM comes into the picture. With the help of this technique, retailers can keep track of their customers’ purchasing behavior, requirements, feedback and gaps in service, etc. and alter their services in such a way that the customers’ delight and goodwill can be increased. Let us discuss a few other key benefits that you can reap by adopting CRM strategies for your business.

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Collect Valuable Customer Data

Considering the large number of customers that companies in the retail industry deal with, it is not possible for them to keeps tabs on every customer manually. Therefore, having an effective customer relations software will help retailers to record individual customer profiles such as purchase history, contact details, the frequency of purchase, feedback, etc. This will help retailers to understand their customers better and provide a better quality of services.

Better Targeting of Promotional Activities

When you know the likes and preferences of your customers, it becomes easier to tailor-make and target marketing and promotional activities for specific customer groups. For, e.g., If a customer’s purchase pattern shows more of formal wear, the players in the retail industry can use this data to promote the new collection of formal wear to this customer or group of customers showcasing similar buying behavior.

Want to gather insights into the trends, challenges, and opportunities in the retail industry? Our market intelligence analysts can help. Contact us today!

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Increased Customer Loyalty

When customers feel that your company is giving them more individual attention, better rewards, and offers they are more likely to stay faithful to your brand. With mounting competition in the retail industry, customer retention has become the need of the hour. It is essential for players in the retail industry to successfully satisfy customers to ensure that they do not lose out customers to competitors. This could also mean that your existing happy customers would recommend your company to their peers, which would help you expand your sales as well as your customer base.

Useful Tool to Improve Your Offerings

Players in the retail industry can gather valuable customer feedback and opinions with the help of CRM. This will help them to get a better picture of what their customers expect from them and identify and rectify the gaps in their products/services accordingly. This will not only help meet the customer demands but also give the feeling to customers that their opinions matter to your brand, increasing their loyalty and chances of retention in the longer run.   

Want to know more about our services for companies in the retail industry? Request for more info!Get More Info

product research

Customer Engagement Helps a Leading Mining Company Bridge the Communication Gap Through Various Channels of Correspondence

At present, due to recent fluctuations in the commodity prices, mining companies are on the verge of re-organizing their capital investments. Also, with the growing shift toward innovations and the presence of new entrants, leading mining companies are relying on effective customer engagement to develop better price strategies. In the manufacturing space, mining companies are stepping out of their comfort zone to foster customer loyalty and awareness. With the help of an effective customer engagement strategy, renowned mining companies can effectively curb churn rates by prolonging the customer journey. To stay competitive in today’s dynamic market space, customer engagement becomes indispensable for mining companies to create value for the customers while improving their overall profit margins. Moreover, marketers across the mining industry are relying on customer engagement solutions to increase customer satisfaction and loyalty.

To ensure superior customer experience and better serve customers, renowned mining companies are approaching organizations like Infiniti Research. With years of expertise in offering a plethora of services, Infiniti’s customer engagement solution helps the client provide robust customer services around the clock and better understand their needs to spur sales.

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The Business Challenge

Like most other mining companies, a renowned firm in the mining industry was facing challenges identifying the potential customers and improving customer retention capabilities. The mining industry client wanted to build a strong customer engagement strategy to refine their prevailing customer relationship and provide real-time, personalized experiences to target customers. With the help of Infiniti’s customer engagement solution, the client wanted to measure customer sentiment and predict future loyalty. The primary objective of the engagement was to keep the customers engaged and plan future customer engagement activities to spur the sales of equipment and services.

customer engagement

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Our Approach

To profile potential customers and build a robust retention strategy, Infiniti’s customer engagement experts carried out extensive qualitative and quantitative research and engaged with prominent stakeholders in the mining space. With an aim to enhance marketing effectiveness, the customer engagement experts also compiled information across a wide array of secondary sources including newsletters, industry forums, and company presentations.

Benefits of Customer Engagement Solutions:

  • Ensured a steady flow of raw materials and further down to the supply chain
  • Increased productivity, profitability, and further enhanced operational efficiency
  • Improved communication by delivering consistent news and information
  • Gained real-time feedback on the products and enhanced operational efficiency
  • Reached out more niche target segments and streamlined their product offerings

Benefits of Our Integrated Approach

The customer engagement solution offered by Infiniti helped the client transform and simplify operations across finance, sales, and the supply chain. With the help of the engagement, the client was able to profile potential customers and drive customer loyalty and enhance the lifetime value of each customer. Moreover, the customer engagement study also helped the mining industry firm to proactively determine customers tastes and preferences and position their products and services accordingly.

Want to know how we can help mining companies spur revenues?

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