Poor user experience personalization

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However, here is a short list of major ways to improve customer retention rate for sure:

Introducing loyalty programs
The easiest way to remind the customer that their business is valuable is by providing some unique reward or appreciation. A loyalty program is a relatively simpler practice that companies can adapt to as part of their process.

Here the company can provide some benefits to its old customers, such as linkedin database discounts, free resources, or a token of gratitude. In summary, loyalty programs are a way to give back to the key contributors of the revenue.

If an IT outsourcing company has been working with a client for years, then it must understand users’ intent, like delivery schedule, communication methodology, and coding standard needs. Such a level of personalization helps clients know that the provider is aware of their needs and demands.

Personalization demands that the company pay attention to clients' requests, pain points, goals, and motivation to work together. If a brand is able to follow its client to such an extent, then it can improve its odds of retaining that customer.

Retention marketing efforts
Retention marketing is among the most fruitful forms of marketing, and it can help companies stay close to their customers. Such a marketing approach can grow the company’s business with existing customers or help them regain a lost client. Retention marketing is a field of its own that every brand should learn and follow.