Strong affinity with your product isn’t always enough to improve retention, especially with new competitors emerging every day. One thing a competitor can’t beat you on, however, is your community.
Studies show that communities
Increase customer retention and decrease customer denmark phone number list support costs. It’s why brands will invest more in customer loyalty and connection than almost any other customer acquisition and retention strategy over the next year.
Some brands have yet to even explore digital marketing or paid advertising because their community is so strong. They spend so much time [building] it that it drives the direct-to-consumer revenue.”
—Kimberly Smith, Founder, Marjani and Board of Directors, National Retail Federation
To build a community your
Existing customers want to stay connected with, define restricting data access in ways that disrupt productivity your purpose and have a shared vision that knits your community together. Position it as an exclusive club; a group of likeminded people who be numbers talk about the topics they’re interested in. Your products should naturally weave into those conversations.
on NFTs. Its president, founder and CEO, Paul Budnitz, says he has plans to build a brick-and-mortar store: “At certain times, you’re not going to be able to get in unless you’ve got one of our NFTs or tokens in your wallet.