Stop losing customers to competition

“Retention” is the name given to efforts that minimize customer churn. A solid retention strategy includes three main components — CRM, CX and UX. Here’s a description of each:

• Customer Retention Management (CRM) — Surely you’ve heard it’s far more expensive to find and onboard a new customer than it is to keep an existing one. CRM addresses anything within your power that can help keep customers happy and minimize attrition.
• Customer experience (CX) — A big part of CRM is taking the friction out of every experience a customer has with your company. CX efforts do this by making transactions smooth — from information gathering and payments through getting questions answered and returns. 
• User experience (UX) — UX is a part of CX that deals exclusively with optimizing online or system-based interactions a customer has with your company. Can a prospect find the answer to their question on your website and/or app in 10 seconds or less? is one common example of the types of issues UX efforts help solve.