40 Customer Retention Statistics You Need to Know

GetFeedback

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. Customer Retention by the Numbers. Institute of Customer Service ).

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. Too many businesses, however, don’t invest in customer retention.

3 Ways to Boost Your Customer Retention Rate With Service

Win the Customer

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. Improve Your Customer Experience. Track Customer Satisfaction.

How to Boost Customer Retention with Unified Customer Support

Kayako

When you give your customers exceptional support, they are 4 times more likely to reward you with their loyalty. Because helpdesks encourage your staff to see customers as faceless support tickets. . But customers are people, just like you and me. Your customers email you.

Optimum CX: Strike the right balance of AI and other new contact center solutions and investing in the human interaction

Robert Davis

Think about your last experience calling a customer care line. Today we read a lot about artificial intelligence (AI) and other new solutions in the contact center marketplace that providers claim will help improve the customer experience (CX). By Brad Baumunk , President and COO.

The Role of CX in a Sales Culture

Beyond Philosophy

Quality sales cultures are the ones where the Customer comes before the close, like Mackay’s quote indicates here. I wrote about Key Performance Indicators (KPI) and their role in the Customer Experience. They balance the needs of the Customers and the needs of their organization.

Sales 410

Losing Customers Trust is the Worst Penalty VW Will Face

Beyond Philosophy

I find it beyond belief how large organizations can cheat and lie to their Customers. Because they lied to their Customers. which accounts for only about 6% of global sales for the brand. VW is a HUGE brand, and they have just lied to customers. It is essential to building Customer loyalty. When will companies learn to stop lying to their Customers? Target and Snapchat: The Power of Customer Loyalty.

Contact center insights: Realize the value of teaching your people how to fish

Robert Davis

Creating Accountability Through Setting Expectations and Agent Ownership. By Brad Baumunk , President and COO, Robert C. Davis and Associates. We have all heard the quote, “Give someone a fish, and you feed them for a day. Teach someone to fish, and you feed them for a lifetime.”

How to Make or Break Your Customer Experience

Beyond Philosophy

All the little parts along the way in your experience are what make a Customer experience Customer-Centric. Putting the Customer first in everything you do applies to every part of your organization, from the way you greet them to the way you bill them.

What Does The Scottish Independence Vote Have to Do with Customer Experience?

Beyond Philosophy

Before I explain what I mean by that and how it has to do with Customer Experience, however, let me first tell you where I was born. 2] The study found price increases had twice the effect on customer switching, compared to price decreases.”. Well, there you have it!

eBay & PayPal’s Split is Good for Customers

Beyond Philosophy

Coming out from under eBay’s shadow will let them blossom, into what I hope will become a Customer-centric organization. They have Customer-centric leadership. It’s great that their new CEO, Dan Shulman is coming from American Express, a highly Customer-centric company.

Contact center insights: Realize the value of teaching your people how to fish

Robert C. Davis and Associates

Creating Accountability Through Setting Expectations and Agent Ownership. By Brad Baumunk , President and COO, Robert C. Davis and Associates. We have all heard the quote, “Give someone a fish, and you feed them for a day. Teach someone to fish, and you feed them for a lifetime.”

Thinking and acting in the interests of the customer. Have you enabled your people to do it?

ijgolding

When customer experience is your passion; your vocation; and you have a desire to share thought, knowledge and opinion; then identifying suitable topics to write about is not particularly challenging. The result was flustered employees and two bemused/ irritated customers.

Destroying Brand Experience, One at a Time

Beyond Philosophy

When the brand experience falls short of the promise, Customers feel disappointed, frustrated, and frankly, hacked off! Let’s take a look at my two experiences and see what we all can learn about fulfilling the brand promise for our Customers at the Customer Experience level. When a Customer asks you how much a product is, tell them. But paying people on Customer satisfaction also doesn’t ensure success, as what followed was a catalog of errors.

Amazing Business Radio: Joey Coleman

ShepHyken

Stop Losing Customers, Start Creating Loyalty. How can accountability create Moments of Magic ® ? Shep Hyken sits down with Joey Coleman to discuss how to “Never Lose a Customer,” which happens to be the title of his amazing book. What is customer retention strategies?

3 Key Pillars of a Successful NPS Program with Salesforce

GetFeedback

It’s no secret it costs five times more to attract a new customer than to keep an existing one. This is because returning customers buy more over time so operating costs shrink; whereas finding new customers is laborious and expensive. Close with a custom thank you page.

RCDA drives KPI achievement through call flow enhancement and agent and leadership development

Robert Davis

RCDA’s focus is client-dependent and ranges from improving acquisition rates, improving customer retention and improving VOC and NPS to upselling and cross-selling products and services. Customer upgrades resulted in increases from 9.5% By Brad Baumunk , President and COO.

Guest Blog: 5 Keys to Building Sustainable Customer Relationships

ShepHyken

This week we feature an article by Matt Nolan who shares five keys to building more compelling, sustainable customer relationships. Customer retention used to be considered just a “service problem.” Today, we have to approach things from a customer perspective.

Why Customer Loyalty is Essential to SaaS Companies

B2B Customer Service Blog - TeamSupport

Given so many companies are making this switch, why should you care at all about customer loyalty? Demand for SaaS solutions may be at an all-time high, but customer loyalty still holds tremendous value to a business. Loyal customers can help sales in two specific ways.

SaaS 60

eBay & PayPal’s Split is Good for Customers

Beyond Philosophy

Coming out from under eBay’s shadow will let them blossom, into what I hope will become a Customer-centric organization. They have Customer-centric leadership. It’s great that their new CEO, Dan Shulman is coming from American Express, a highly Customer-centric company. Furthermore, he was a part of Virgin Mobile’s team, which is again very Customer-centric. When we training people on how to assess their Customer Centricity we use our Naïve to Natural model.

eBay & PayPal’s Split is Good for Customers

Beyond Philosophy

Coming out from under eBay’s shadow will let them blossom, into what I hope will become a Customer-centric organization. They have Customer-centric leadership. It’s great that their new CEO, Dan Shulman is coming from American Express, a highly Customer-centric company. Furthermore, he was a part of Virgin Mobile’s team, which is again very Customer-centric. When we training people on how to assess their Customer Centricity we use our Naïve to Natural model.

What Is Customer Churn Rate and How You Can Reduce It Fast

Comm100

Is your customer churn rate burning a hole in your retention plan? When it comes down to it, most companies are losing far too many customers. Reichheld in the Harvard Business Review, the average company loses about half its customers in a fiver-year period.

With customer experience design, functional is good. But don’t stop there – by Beth Richardson

ijgolding

“Focus on the whole journey, not just the transaction” In the world of Customer Experience (CX) you will hear this phrase frequently. The difference between a user story like the one above, and meeting a customer’s overall goal. Customers are human.

The Distance Between Prawn Crackers and Preferences in Most Customer Experiences Today. By Greg Moore, Episerver

ijgolding

We are all customers. Out in the wild” we know that our customer experience is shaped by the perception we have in each interaction with a brand. So why don’t we prioritize this for our business, for our customers? Where to Begin: Customer Insights.

So What?! There are plenty more customers where he came from!

ijgolding

The hiatus in my writing does not mean I have run out of things to say on the subject of customer experience (CX) (boo, say some; hurrah, say others!) – far from it! Sadly, during that same period I have also ceased to be a customer of every single one!! This is what customers do.

How to Embed a Customer Experience Framework 

ijgolding

In my exclusive column for CustomerThink in October 2016, I shared my ‘top tips’ for creating the right culture to enable an organisation to become genuinely customer centric. In my last column of 2016, I explored tip number 2 – how to embed a Customer Experience Framework.

Random & Unintentional Customer Experiences: an example from BT

ijgolding

If I am asked my opinion of the state of Customer Experience around the world, I make a number of rather bold statements. I believe that approximately 95% of companies in the world are delivering ‘random or unintentional’ customer experiences.

Do your people ‘make’ your Customer Experience? Monarch & Specsavers believe theirs do!

ijgolding

Do your people ‘make’ your Customer Experience’? To see a brand leveraging the qualities of its people as a marketing tool is fascinating – it will be even more so to see if both customers and Monarch’s people themselves agree with the sentiment.

The Customer Experience ‘7 Year Itch’! A frank and honest assessment of the CX profession

ijgolding

As a prolific writer on the subject of Customer Experience, I feel as though every article I publish is a reflection of sorts. I first became aware of job roles containing the words, ‘Customer Experience’ in the early noughties.

Customer Experience failure in the energy industry – exhibit 1 – British Gas

ijgolding

Why is it that an industry that directly affects all of us and one that is heavily regulated with authorities supposedly protecting the interests of consumers/customers, is so often completely failing to deliver experiences that get even slightly close to meeting our expectations?

Carolyn McCall, CEO, Easyjet – An Example of a Courageous Customer Focused Leader

ijgolding

I am no more educated that the next man or woman – nor am I the global expert on Customer Experience. As a self-employed Customer Experience specialist, I barely have the time to respond to phone calls and emails – and I only have myself to answer to!

Customer experience does not apply to us – ‘we’re different’! Is it possible to be a genuinely ‘customer centric’ law firm?

ijgolding

Over the last few months, I have had a number of conversations with people in my networks about the challenges being faced by the traditional professions – predominantly law and accountancy. These industries are often populated by businesses who THINK they are already customer focussed.

Heroes or Villains? Customer Experience Spotlight on the Telecoms Industry

ijgolding

However today, I want to focus on the subject of Customer Experience in an industry that on the face of it, appears to be struggling to keep its customers happy. is a HERO when it comes to delivering great Customer Experiences…… or a VILLAIN!

Find, Win, Keep: A simple customer centric business strategy

ijgolding

Gary’s probing went as follows: ‘What is our strategy to sustainably FIND new customers?’ Back in 1999, the concept of the ‘customer journey’ did not really exist. I would have to pay significantly more to upgrade than if I were a new customer.

The #CX Proof is In the (Diet) Pudding

CX Journey

Image courtesy of beetlecakes I have a few questions for you about your company: Are you focusing on acquisition or retention? Are you rebranding your image or are you reinventing the customer experience? Do Your Customers Talk About Your Products or Your Ads?

The Transparent Customer Experience: how measurement can benefit both company & customer

ijgolding

It is impossible to go online these days without seeing some form of ‘customer driven measurement’. Online forums, Facebook groups and Twitter accounts all add to a melting pot of consumer driven transparency. Now that is what I call the transparent Customer Experience!

Broken Promises: the easiest way to destroy the Customer Experience!

ijgolding

When it comes to the subject of Customer Experience, there is one thing I can say with absolute certainty – if you make a promise or a commitment to a customer, you had better keep it! Telling a customer you are going to do something is as good as making a solemn vow.

Mystery Shopping Programmes – great in reality or just in theory?

ijgolding

The story led to me meeting the man responsible for Customer Experience at McDonalds in the UK. Particularly when you thought you had clicked to read about customer experience and mystery shopper programmes. Unless, that is, you are an undertaker, taxidermist or tax collector.

Education, Education, Education – the real need for developing Customer Experience learning

ijgolding

As we approach the end of another calendar year, like many Customer Experience Specialists, I am asked a number of ‘annual cyclical’ questions that ask for my opinion on a number of things. One of those things is related to my key Customer Experience learning’s for the year.

It doesn’t bother me! What would the world be like if no-one cared about Customer Experience?

ijgolding

In all cases, I have been asked to work with; talk to; teach; cajole; people from the C-suite to the front line; in understanding the importance of Customer Experience. The Customer Experience Movement has been building and growing for many years. It is not a right to have customers.