What could surpass the bliss of welcoming new customers every day? A repeat customer.
Investing in your products or services is undoubtedly a thing with a hundred new customers marching toward your business. But studies show that about 13% of unhappy customers will share the word about their poor experience with over 20 people.
So, retaining existing customers and making sound efforts to turn them into return customers is the key.
That’s why businesses are all the rage about customer retention software. These are tool that helps them accentuate customer loyalty and establish a long-lasting relationship.
Let’s understand what this means and explore the top customer retention software.
What is Customer Retention Software, and Why Is It Important?
Customer retention is an approach to turning existing customers into repeat or return buyers. This term implies the practices and tactics businesses use to retain their customers. Studies show that 5% increase in customer retention transforms into 25% — 95% higher profits.
Customer retention software is a tool that offers a tray of features, data, and useful insights that help you mold decision-making and taking actions to keep the customers on the page and prevent them from turning to your competitors.
A customer retention software can be beneficial for your business in the following ways:
- Increase in the number of purchases from existing customers
- Reduced customer churn
- Insights on customer engagement, behavioral patterns, and spending habits that guide your decisions in the right direction
- Boost in referrals
- Happy customers equal repeat customers
Businesses employ different customer retention strategies to attract customers and establish a lifetime of relationships with them. It is imperative to note that customer retention is different from lead generation.
The former is all about the approach dedicated to existing customers. It does that by collecting from every touchpoint and using it for profiling and segmenting customers, understanding their behavior, and various other aspects.
1. Kommunicate — Chatbot + Live chat
About 89% of companies treat customer service as a key to customer retention. One of the most deciding factors in customer retention is fleet-footed communication.
When a customer drops a query and receives a response within a blink, it makes for an ultimate ‘good’ impression. You might want to use an AI chatbot, and that’s why you should try Kommunicate.
Kommunicate is a customer service automation platform that makes an excellent option to create your own AI chatbot. You can schedule meetings, convert leads and provide 24/7 customer service using a chatbot.
The most incredible thing about this tool is that it allows for a human + chatbot hybrid option, making it easy to address and even reduce customer queries based on complexity. This platform establishes customer relationships and promises loyalty.
What we love about Kommunicate
- Option to create your own AI chatbot to boost automation and ensure 24/7 customer support
- Human + Chatbot hybrid model for managing customers efficiently
- Integrations with a broad range of platforms
- Reports and analytics help fetch insights on the effectiveness of chatbot, team performance, etc.
2. Mixpanel — Data Analysis
Mixpanel helps you keep every byte of customer-oriented data well-organized. You can collect, segment, refine and read the data of various types, including the number of new registrations. The software lets you check how well customers welcome the latest updates/ features you’ve introduced to your platform.
You can also see when customers have visited your platform or new customers have signed up the most. Moreover, you can use this customer engagement software to determine the time it has taken to retain a customer. On top of that, the software helps you check whether your customers are visiting your platform through paid ads or if it is organic traffic.
What we love about Mixpanel
- Collect, refine and analyze various types of data
- Organize retention data period-wise
- Determine the marketing move that works best for you
- Make more informed and more thoughtful decisions based on the valuable insights within the tool.
3. Optimove — Self Optimized Campaigns
Optimove allows you to enhance your customer retention journey with self-optimized campaigns. It lets you measure the data of each of your customer interactions within the tool. It makes a fantastic tool enabling omnichannel visibility and predictive modeling that boosts customer support.
One of the exciting things about Optimove is that it features cross-channel campaign management. Moreover, it also makes streamlining things more accessible with a calendar-based task tracking option.
You can also have a detailed view of each customer interacting with your business using the single customer view option.
What we love about Optimove
- Predictive analytics that helps discover trends.
- Identify target customers using advanced options.
- Schedule and organize various tasks with calendar-based management
- Automate marketing campaigns
- Smarter decision-making
4. LoyaltyGator — Enhanced Loyalty Programs
LoyaltyGator unlocks the opportunity to retain customers by leveraging loyalty programs. This easy-to-use and flexible web-based tool brings loyalty program solutions that allow you to customize your rewards programs for customers.
You can integrate your loyalty program with the system you are using or make LoyaltyGator’s stand-alone platform work for you.
This tool offers reports of customers and transactions, which help you obtain crucial insights into customers’ choices and spending habits.
It lets you group your customers based on their habits and preferences and customize your service accordingly.
What we love about LoyaltyGator
- Integrate customer loyalty programs to boost engagement
- LoyaltyGator stand-alone loyalty program solution
- An employee incentive program to a boost motivation
- Data analytics for insights on customer preferences and spending habits
5. Zendesk — Personalized Customer Interactions
Zendesk is one of the top customer retention software that allows you to have uninterrupted communication with your customers. You can leverage Zendesk to personalize your interaction with the customer.
The platform enables you to use the actions and preferences of customers to tailor your conversation. It paves the way for personalized alerts and notifications that customers can send. This automated functionality makes it easier for you to be proactive with your interactions and boosts employee productivity.
What we love about Zendesk
- Tailored communication with the customers
- Integration with various platforms
- Training sessions on the use of software
- Increased agent productivity
6. Kissmetrics — User Behaviour Tracking
If you’re looking for a tool that accelerates user behavior tracking and fetches insights on your customer’s journeys, then you might want to try Kissmetrics.
This customer retention management software helps ensure that your business attracts the right customers.
Kissmetrics is backed by many analysis and interpretation functionalities that allow you to discover the must-know checkpoints for a wonderful user experience.
The tool makes it quite effortless to interpret your website’s performance and see how a specific page is doing. These functions give you the window to remove obstacles and improve various areas.
What we love about Kissmetrics
- Track customer behavior in real-time and profile target audience
- Dashboard for an overview of various metrics
- Unleash useful features based on customer activity and preferences
- Identify churn rate
7. Qualaroo — Enhance Customer Experience
This comprehensive cloud-based software is perfect for you to up the game of customer experience with surveys. Qualaroo lets you create various surveys, enabling a steadfast collection of feedback and essential data.
The feedback obtained using these surveys is relatively straightforward and gives you a clear insight into how your customers react. So, it becomes notably seamless for you to identify and work on the areas that need a revamp.
What we love about Qualaroo
- Create different types of surveys with stunning templates in over 100 languages
- Find the most relevant data related to your customers and understand why they are signing up or exiting.
- Use built-in customization options and themes
- Integration with CRM and marketing tools
8. PEGA — Pre-built Customer Retention Campaigns
PEGA is yet another customer retention management software that helps minimize one-time retention costs and reduce customer churn. T
he tool offers big data analytics that helps you determine the budget for retaining each customer based on business value. The predictive analytics feature in PEGA lets you comprehend the needs and preferences of your customers.
The tool lets your customers tailor their packages with the dynamic building feature. It simplifies the process to better customer experience with pre-built customer retention campaigns.
Additionally, the software also has omni-channel functionality that allows your customers to choose the desired channel they want to interact with.
What we love about PEGA
- Seamless integrations with various systems, including PEGA’s order management application
- Personalized customer interactions
- Omni-channel communication
- Budget management
9. Qualtrics- Customer Behavior Forecasts
Qualtrics lets you utilize operational and user experience data to create customer behavior forecasts. It helps you decide and commence necessary actions to retain customers effectively.
The software comes with a customer support tool that allows you to discover the reasons behind customer churn. Other incredible features like multi-channel customer support and a ticketing system help you reap customer feedback.
Overall, it is a strong suite of features that speed up the errands related to customer retention management.
What we love about Qualtrics
- Compose different types of surveys using attractive graphics and randomization
- Choose from an array of built-in temples and over 85 types of questions
- Translations are available in over 48 languages
- Real-time communication with teams
10. Zoho CRM — Enhanced Customer Engagement
Zoho CRM is one of the most popular customer retention software out there. It lets you effectively get in touch with your existing and potential customers.
This tool makes an excellent platform for customer engagement across a slew of channels which boosts the scope for retention.
The software works on integrations with a number of Zoho tools, and that notably amps up the workflow.
One fantastic thing to note about Zoho CRM is that it has an option to turn routine sales work into contests which is a pretty interesting way to engage your team.
What we love about Zoho CRM
- Customer engagement using multiple channels such as social media, live chats, and email.
- Team collaboration in real-time
- Option to personalize messages
- Easy access to social media campaign activities with data centralization
- Seamless forecasting and allocation of targets
- Integration with Zoho tools for an unbothered experience
Get the Best Customer Retention Software for Your Business
Customer retention systems aim to manage the flow of customers and strengthen their trust in the brand effectively. Investing in customer retention software can attract years and years of faith and consistent show-up by many of your customers.
Each software mentioned on the list has something to benefit your workflow, teams, and overall customer service management.
This software’s most vital feature is reports and analytics that can turn the tables for you. And essential features like chatbot spruce up your customer service game in no time, which is a powerful way to turn your existing customers into happy customers. Isn’t it?
Originally Published at https://www.kommunicate.io/ on 20th August 2022
10 Best Customer Retention Software You Must Try (2022) was originally published in Chatbots Life on Medium, where people are continuing the conversation by highlighting and responding to this story.