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Customer retention is the new religion

Hello Customer

January typically is a month to forecast trends, and we believe customer retention will be an important one. But we see increasingly more organisations move their focus from aggressive acquisition investments to retention management. Customer retention or acquisition? On top, new customers often get more benefits.

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Chatbots in Banking: The New Must-Have in Customer Care

Inbenta

check account balances. They need intelligent platforms that can interact with these customers and understand what they are trying to say. Chatbots in banking can help streamline transactions like money transfers and account balance checks via a conversational interface so that customers are constantly guided through their actions.

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Validating Your Outsourced Customer Care Partnership: Is Your Incumbent “Still the One”?

BlueOcean

Well, in a B2B customer success model, measuring renewal rates holds your outsourced partner accountable to targets that are tied to revenue and retention. Total Value Returned Rate is a key metric that also has to be tied to customer retention. Are Your Customers Happy? appeared first on Blue Ocean.

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The Emotional Side of Customer Care (and how AI can help)

Interactions

This type of technology enables businesses to deploy emotion-based customer care. For example, an IVA will be able to determine a customer’s emotions and sentiment and have the ability to respond in the appropriate way. With so much uncertainty, brands must take the emotions of these customers into account.

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Unraveling the Tangled Vines of Omnichannel Customer Care

BlueOcean

In fact, a NewVoiceMedia survey revealed that 43% of customers feel more connected to a brand when they are able to contact a company through any channel. Furthermore, customer retention rates are significantly higher for companies with a strong omnichannel approach. We’d love to chat more with you about this topic and more.

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4 Customer Retention Strategies To Help Online Businesses Boost Loyalty

Kayako

What is customer retention? Simply put, customer retention refers to the strategies and tactics businesses use to encourage repeat purchases and ongoing loyalty from their existing customer base. That’s why customer retention is so vital for businesses of every stripe. Stand Behind a Social Mission.

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Top 5 Customer Service & CX Articles for Week of January 29, 2024

ShepHyken

These companies “achieve 37% more effective new logo acquisition, 23% more effective account penetration, 22% more effective customer retention, and 13% higher earnings before interest, taxes, depreciation, and amortization (EBITDA) margins.” Consider these results from companies in the top quartile of the CX index.