They have growing customer retention despite more competitors on the playing field. Spotify, originally founded in 2006 in Sweden, continues to see success. > Read Next: What Metrics to Measure in your Contact Center to Save Customer Retention and Build Brand Loyalty Spotify Finds Success And, we’ve done a deep dive to see just how they do it. Your customers do your marketing for you, spreading good words about your product and service.īut, how do you connect with your customers to make sure they keep coming back? The music streaming platform Spotify masterfully retains customers. Aside from saving you on customer acquisition costs, when you can establish a pool of customers who are loyal to your brand, you have an edge over your competitors. That said, you’re losing out on business growth if you don’t focus on brand loyalty. And, when compared to the cost of customer acquisition, customer retention costs almost 5x less than bringing new customers under your umbrella. A study from Harvard Business School found that increasing customer retention rates by even 5% can boost your company’s profits by 25-95%. If you are paid users, you can also try this way to avoid those annoying errors while using offline mode on Spotify.Long-term customers are more valuable to your company’s growth than you may think. For free subscribers of Spotify, this method will enable you to listen to Spotify offline without upgrading to premium membership.
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