Customer retention is important.
According to statistics from Gartner, Inc., 80% of a company's future revenue will be generated by 20% of its existing customer base.
Bain & Company found that a 5% increase in customer retention can potentially boost a company's profitability by 75%.
Social Media Examiner took a look at how top brands are using Facebook to build and nurture relationships with customers.
One element of leveraging Facebook to boost customer retention is to embrace brand advocates: "Give your customers a place to share their voice and their stories, and you'll develop a kinship that will lead to brand loyalty."
The Walt Disney Company is used as inspirations, and The brand's Father's Day post (below) is used as a great example.
"Disney took a story that applies to a substantial segment of its audience, and personified it in video from using recognizable characters. This Facebook post does three things: promotes Disney's core values, celebrates brand advocates and invites participation. Through brand experience storytelling, among other campaigns, Disney celebrates the fan experience and endears itself to customers in the process," Kandice Linwright wrote.Add a Comment | Back to Top
1 (888) 299-2998