The customer retention of Ken Research refers to the activities that our company do to reduce the number of customers we lose each month, quarter, and year. Our Company’s Customer Retention Strategy begins when we acquire another client and proceed as we build a stronger professional relationship with the client. The rewards of well-thought customer retention strategies are that we lead customers for experiencing a sense of loyalty towards the product. The creation of a positive estimation makes the customers return for more. Some of the key customer retention strategies that can work wonder if we invest in them including approach latent customers, reduce customer attrition, maintain the integrity of our product, treat client complaints as a business opportunity, maintain a communication calendar, customer service is top priority, personalization through social media, inspire customers with a mission, gather testimonials from happy customers and surprise & delight your customers.
Ken Research help in all areas of retention such as customer technology selection, customer segmentation, customer technology implementation & deployment, customer journey mapping, analysis of existing strategy, benefits management and program management.
We can increase the revenue value and improve customer retention by right pricing strategy. Pricing is an integral part of marketing, which is the only revenue-creating one. Generally, Pricing Strategies Assessment is very important as it serves as a bridge between our company and customers. Pricing strategy is used to chase various types of objectives such as expanding profit margin, increasing market share and driving a competitor from the marketplace. It may be requires to alter our pricing strategy over time as our market changes. Some of the common used pricing strategies are high-low pricing, freemium pricing, limit pricing, marginal cost pricing, loss leader pricing, dynamic pricing, breakeven pricing, premium pricing, penetration pricing, price leadership, psychological pricing, price skimming, value based pricing, time & materials pricing and others. Al these pricing strategies are related to all aspects of our business model.
Our company’s business model is a framework for finding an organized way to unlock long-term value for an organization while delivering the value to customers & capturing value through the monetization strategies. Industry Potential Business Model is the holistic framework to design, understand, and test our business assumptions in the marketplace. Some of the essential components of business models are solution, vision, objectives, Go-to-Market, messaging, pricing, value, growth opportunity and others. Key business models used by our company are freemium, subscription, transactional, retail sales, affiliate and others.
To create the Industry Potential Business Model we create a new venture, expand into a new market, or change the go-to-market strategy. We use this business model to capture the fundamental assumptions and decisions about the opportunity in one place and setting the direction for success. Most businesses end up using the combination of business models to reach our customers and grow over time. Creating the business model requires deep thought & analysis. Company and product/service builders must think from the outside in, focusing on market requirements and what matters most to customers. There are many types of business models that depend on type of business such as direct sales, advertising-based, franchising, and brick-and-mortar stores are all examples of traditional business models.
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Ankur Gupta, Head Marketing & Communications