ProProfs Blog

DECEMBER 11, 2020

They even help you understand if your customers are satisfied or not. There are multiple customer satisfaction metrics that your business can use to get answers to questions like “Is my customer satisfied?” or “Are we successful as a brand to create an awesome experience for our customers?”. Let’s get started!

Metrics 148

Metrics Abandon rate Surveys Feedback 148

GetFeedback

DECEMBER 21, 2018

Learn about the top two customer surveys for predicting and increasing customer retention. Anytime a customer cuts ties, you experience the negative impact of customer churn. Here are 40 customer retention statistics that reinforce the growing need for customer experience management.

Customer retention 156

Customer retention B2B Surveys B2C 156

ChurnZero

FEBRUARY 14, 2023

Some Customer Success metrics are considered standard but there’s often more than meets the eye. Sales and marketing professionals that geek out on metrics can find themselves in deep philosophical debates about the best numbers to track. There is often more than one way to calculate a given Customer Success metric; Gaming.

Metrics 94

Metrics SaaS Customer retention Construction 94

ProProfs Blog

JUNE 21, 2019

Do you have a customer retention strategy? Companies focus on customer acquisition strategies, since increasing your customer count is the lifeblood of your business. But, customer acquisition won’t help, if you are unable to retain customers. Understand Customer Retention.

Customer retention 95

Customer retention Sales Marketing Scripts 95

SharpenCX

JUNE 8, 2021

If your team can’t retain customers and establish long-term relationships that last, your entire company suffers the losses. According to research out of Bain & Company , increasing your customer retention rate by just 5% can increase profits anywhere from 25 to 95%. Customer acquisition on the other hand is costly.

Customer retention 76

Customer retention Coaching Employee engagement Contact Center 76

ProProfs Blog

APRIL 17, 2020

And if you successfully increase customer retention rates by 5%, then you can boost profits by 25% to 95%. That’s one of the reasons why y ou formulate strategies to retain your customers. But without numbers or metric data in hand, coming up with any new strategy would only consume your valuable time. So, buckle up.

Metrics 142

Metrics Customer retention SaaS Surveys 142

Totango

MAY 1, 2020

Retaining existing customers is especially important during uncertain economic times, when fewer new customers may be signing on with your service. That’s why customer retention management software is a vital component of your retention strategy. What Are the Benefits of Customer Retention Management Software?

Customer retention 62

Customer retention Management Enterprise Upselling 62

Fonolo

MARCH 16, 2021

Still getting to grips with call center metrics and which ones are the most important? What is First Call Resolution (FCR) in Call Center Metrics? First Call Resolution is a measure of how frequently you can resolve a customer’s query the first time they reach out. First Call Resolution improves customer retention.

First call resolution 125

First call resolution Call Center Metrics Contact Center 125

aircall

JUNE 30, 2021

Many look to the company for ways to improve customer retention. Email: Ring’s Secret to Improve Customer Retention. For one thing, it sends new customers emails to share tips on properly setting up the product. However, Ring is not the only company to reap the rewards of its stellar customer retention strategies.

Customer retention 62

Customer retention Customer advocacy Wait times Brand ambassadors 62

Education Services Group

APRIL 27, 2022

I’m not going to waste time trying to document how to correctly (mathematically) calculate all the three letter acronyms—but feel free to check out our Customer Success Definitions, Calculations, and Lingo…Oh My! Instead, I want to do some level setting on some specific metrics and flaws I see in the industry.

Metrics 98

Metrics Surveys SaaS CRM 98

JustCall

NOVEMBER 24, 2022

Trying to make a sales call to a person who has not shown any interest in the product? Soon after the SDRs or Sales Development Reps have done their job, AEs or Account Executives are sales professionals who are the first ones to interact with prospects. Job Role of Account Executives. Skills Required to Be an Account Executive.

Accountability 52

Accountability Calibration Sales B2B 52

ChurnZero

FEBRUARY 4, 2022

Customer Success Metrics that Your Investors and Board Care About. But despite these shared goals, many customer success leaders struggle with feeling confident in their investor relationships, or even establishing relationships at all. We cover: How does customer success work with investors? Board meetings.

Metrics 98

Metrics Consulting Consulting Best practices 98

Totango

MAY 7, 2024

By our math, that means nine out of 10 revenue-accountable leaders need a hand getting on the same page as their fellow go-to-market (GTM) counterparts. If CS doesn’t have commercial conversations with healthy customers, they’re not setting Sales up to re-enter the conversation and potentially upsell. Use your words Talk to each other!

Sales 97

Sales Upselling Metrics Accountability 97

Playvox

AUGUST 25, 2022

And, we have all seen the impact of just one person doing something NOT in the plan and the downstream effects. For example, one person may log in late for their opening shift. Another person may not adhere to scheduled breaks or lunches. One person may leave early from their closing shift. What was the effect on service?

Personalization 85

Personalization Management Schedule adherence Average Handle Time 85

CustomerSuccessBox

MARCH 15, 2022

So let’s deep dive into Customer Success, Customer support and Account management. What is customer success? The initiative was taken by the business to assist the clients or the customers to effectively use its products and plan the business operations to be empowering and successful. Minimizing churn.

Accountability 52

Accountability Customer Support Management Upselling 52

CustomerSuccessBox

MAY 6, 2021

From the last couple of weeks, we’ve been writing about the importance of customer retention , key metrics to track and how Customer Success can help you drive retention, and whether your organization is ready to implement Customer success software. . Steps to implementing Customer Retention Software.

Customer retention 52

Customer retention SaaS Calibration Analytics 52

JivoChat

JULY 20, 2021

People have a lot of options these days, so if you don’t have good customer retention strategies , your business won’t be as stable or profitable. It costs five times as much to win a new customer as it does to retain an existing one. In this post, we’ll reveal why you should start focusing on customer retention and when.

Customer retention 52

Customer retention Gamification Education Self service 52

ChurnZero

FEBRUARY 14, 2023

Some Customer Success metrics are considered standard but there’s often more than meets the eye. SaaS professionals who geek out on metrics can find themselves in deep philosophical debates about the best numbers to track. There is often more than one way to calculate a given Customer Success metric; Gaming.

SaaS 52

SaaS Metrics Customer retention Construction 52

Pointillist

JUNE 15, 2018

Much of the marketing world is still focused on customer acquisition, but to improve customer retention will yield f ar better ROI and cost about 5-25X less than customer acquisition. What is Customer Retention? Why Customer Retention Matters. My Customer Retention ?

Customer retention 110

Customer retention Analytics Airlines Personalization 110

Solvvy

SEPTEMBER 20, 2022

Evaluate these metrics: First response time : This metric shows the time it takes customer service agents to respond to customers. Tickets per customer: This KPI tracks how often customers have to submit tickets before their issues are resolved. It’s often tracked over a month or other timeframe.

Chatbots 62

Chatbots Metrics Customer Support Customer Service 62

Playvox

MAY 24, 2023

For just about any business or department, metrics are crucial to measuring performance. For the typical contact center, metrics are the key to identifying the reason behind a bad day and being able to create operational efficiency that helps avoid a repeat. The customer retention that follows these efforts makes them worth it.

call center workforce 52

call center workforce Metrics Schedule adherence Call Center 52

Comm100

MAY 4, 2023

However, there is one factor that can be lost within digital banking which many customers still long for. Personal, human interactions. Live chat allows banks and other financial institutions to bring the personal touch back into virtual interactions. Live chat can be very personal. This is where live chat comes in.

Banking 52

Banking Personalization Customer Experience Wait times 52

JustCall

FEBRUARY 28, 2020

Or, Are you looking for an Account Manager job description that can take you through your interview? Well, whether you yourself are going to take up the role of an Account Manager or you are looking out for hiring one. This blog post will give you a complete idea of an Account Manager job description.

Accountability 52

Accountability Management Finance Upselling 52

ChurnZero

MAY 3, 2019

If you want your business to be successful in the long run, it pays to give priority to customer retention. Landing a customer who will pay for life is like hitting the jackpot. After all, it takes five times more effort to land a new customer than to retain an old one. Relevant metrics related to product usage.

Customer retention 75

Customer retention CRM Upselling Sales 75

Totango

SEPTEMBER 24, 2019

Knowing these different stages can be powerful for monitoring, servicing, and motivating customers, but it all needs to come from a unified, consistent brand. There’s no need to indulge a divisive customer retention vs. new customer acquisition dynamic. Customer Retention vs New Customer Acquisition: The Common Goal.

Customer retention 59

Customer retention Sales Enterprise Upselling 59

CustomerSuccessBox

APRIL 19, 2022

Customer Journey Analytics will help marketers have a better understanding of how to engage with each customer with respect to the overall acquisition journey. This will enable enhanced personalization efforts and make your customers feel that you truly understand them. Customer Experience Teams.

Metrics 52

Metrics Analytics SaaS Journey mapping 52

Win the Customer

JANUARY 19, 2016

Gartner research shows that by 2018, 70 percent of business-to-business ecommerce sites will offer customers personalized features, and sites effectively using personalization will outsell competitors by 30 percent. Eighty percent of your future profits will come from 20 percent of your customers, Gartner says.

Customer retention 81

Customer retention B2B Surveys Feedback 81

CCNG

OCTOBER 19, 2022

(Oracle, 2011) Businesses have a 60 to 70% chance of selling to an existing customer while the probability of selling to a new prospect is only 5% to 20%. Marketing Metrics, 2010) Increasing customer retention rates by 5% increases profits anywhere from 25% to 95%. over the last two years, 2.4 IDC, 2022).

Customer Experience 195

Customer Experience Journey mapping Metrics Surveys 195

JivoChat

AUGUST 24, 2021

Many people don’t understand the importance of customer service metrics. Consider that 78% of customers will do business with you again after a mistake if you have excellent customer service. The main challenge is knowing which metrics to track. Don’t take this personally. Ticket Volume.

Metrics 59

Metrics Customer Service Upselling Average Handle Time 59

ClientSuccess

JUNE 19, 2019

If you think retaining an existing customer is expensive and unnecessary, try acquiring a new one. It will surely get your brain and bank account working overtime. Increasing customer retention by 5% can increase profits by 25-95%. Personalized Offers Lead to Loyal Customers. Shocker, right?

Customer retention 73

Customer retention B2C Entertainment Consulting 73

The Northridge Group

NOVEMBER 4, 2021

When executed appropriately, frontline excellence training produces contact center managers who can effectively train their associates to improve customer experience and increase first call resolution leading to cost savings and increased customer retention. . Accountability is essential for coaches as well as associates.

Best practices 136

Best practices Coaching contact center associations Contact Center 136

JustCall

JANUARY 5, 2021

Call center agents' performance is directly proportional to the customer experience. With call center metrics, you can identify your strengths and weaknesses and take stock of how your agents are faring. But, which contact center metrics and KPIs should you focus on? Call Center Metrics. First Call Resolution.

Call Center 52

Call Center Metrics Abandon rate Average Handle Time 52

Lumoa

FEBRUARY 9, 2023

software bug fixes, wrong information corrected on the website) Product development decisions : reprioritizing things on the product development roadmap taking the feedback into account (e.g. more friendly behavior in customer service) Marketing to take the info into account in better targeting (e.g. So why should you care?

Customer Experience 178

Customer Experience B2C Journey mapping B2B 178

Monet Software

JULY 30, 2019

How well agents perform their jobs, and how well they adhere to company policies and procedures has a direct impact on KPIs and other critical metrics. Since staffing accounts for as much as 70% of most call center budgets, performance analytics provide actionable intelligence that can impact forecasting and scheduling.

Analytics 48

Analytics Call Center Metrics Average Handle Time 48

ChurnZero

MAY 2, 2024

Good news: Gross Revenue Retention (GRR) among surveyed SaaS companies remains robust at 90%, illustrating the effectiveness of customer retention strategies and the stability of the SaaS business model. In turn, this necessitates more focus on customer retention strategies for long-term business sustainability.

SaaS 52

SaaS Benchmark B2B Surveys 52

SharpenCX

APRIL 14, 2020

Metrics are more than just numbers on a page. Metrics don’t exist in a vacuum. When they work in a relationship with one another, your metrics can measure success and failure and recognize progress. When they work in a relationship with one another, your metrics can measure success and failure and recognize progress.

Metrics 84

Metrics Customer Service Employee engagement Morale 84

Totango

JUNE 30, 2020

Communication during a crisis is about protecting your core asset, your customers. The digital transformation of business has shifted enterprise focus toward customer retention and the pursuit of long-term value. Challenges such as the ongoing COVID-19 pandemic only reinforce the importance of keeping the customers you have.

Best practices 126

Best practices Customer retention Metrics Enterprise 126