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5 Top Customer Service Articles For the Week of May 25, 2020

ShepHyken

How to calculate your customer retention rate by Bryce Baer. Rather, consider it a key metric to guide and improve customer retention strategy and retention rate. I was glad to see this article, which includes the formula to measure customer retention. How to calculate your customer retention rate.

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6 Ways to Boost Customer Retention—and Stats to Know

Quiq

Marketing and sales consistently combine their efforts to attain the most customers at the lowest price. But few businesses dedicate as many resources to customer retention. Keeping customers happy and continuing to buy from your e-commerce business deserves (and often requires) as many resources.

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60+ Customer Loyalty Statistics for 2020

ProProfs Blog

But trust me, factors like: Product quality, Awesome support, Marketing reach, Efforts to engage customers, . Efforts to retain customers, help you formulate effective loyalty programs that your customers enjoy being a part of. Customer Loyalty Statistics 2020 You Shouldn’t Miss. Tweet this.

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100+ Customer Experience Stats to Prepare for 2023

CCNG

(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%. and 66% would trust other consumer opinions posted online.

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TOP 30+ Customer Experience Statistics to Know in 2023

Nicereply

Omnichannel customers are proven to be more profitable Provides omnichannel support across all customer touchpoints, from voice to email, chat, and social media support and reduces customer effort, and maximizes Revenue. Nearly 80% of customers prefer omnichannel strategies due to the seamless communication experience.

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What is customer success?

delighted

Instead of having all inquiries go to your customer support team, be proactive and provide a self-service knowledge base or help center that can answer customer questions quickly and effectively. Investing in a comprehensive knowledge library for your customers saves you time and bandwidth.

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E-commerce is booming, but what if your revenue is not?

Hello Customer

E-commerce heavily accelerated in 2020 due to the pandemic. Not only did this increase the customer expectations of ordering online, but it also ramped up the competition for online sales. With digital retail moving into the spotlight, your customers are now won and lost in your online store. Also, play with timings.