Totango

JANUARY 26, 2021

Read on to learn what churn is, how an attrition analysis can help you pinpoint why you’re losing customers, and what steps you can take to prevent customer churn. What Is Churn Rate and How Does It Relate to Customer Retention? These are just a few examples of issues which can contribute to customer churn.

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Customer retention Sales Marketing Big data 89

ChurnZero

AUGUST 11, 2020

Did you know that 60% of SaaS companies reported a negative impact on customer retention and upsell deals due to the pandemic? Customer retention, along with new customer acquisition, has been challenging for most companies when the pandemic hit. This is a guest blog post by Anita Toth, Chief Churn Crusher. .

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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. Source: Intuit.

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Customer retention Sales Marketing Scripts 95

Integrity Solutions

MARCH 21, 2022

With the rise of cross-functional buying committees in B2B selling situations, sales and marketing professionals are reevaluating some of their “tried-and-true” methods and shifting away from just individuals to more of an account-based sales approach. One of the hallmarks of account-base sales is hyper-personalization.

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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.

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CustomerSuccessBox

OCTOBER 19, 2021

Your goal as a business is to reduce churn, increase customer retention, product adoption, and aim for customer success. The underlying theme for all of these is customer education. Research by TSIA shows that customer education can immensely enhance your retention. What is customer education?

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JustCall

MAY 14, 2020

But the operation that is facing the most critical hit is – Customer Retention. Customer acquisition has become more difficult than ever. And businesses have shifted their focus towards Retention. But are you still sticking to the old-fashioned customer retention strategies?

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Customer retention Journey mapping Education Feedback 52

JustCall

MAY 14, 2020

But the operation that is facing the most critical hit is – Customer Retention. Customer acquisition has become more difficult than ever. And businesses have shifted their focus towards Retention. But are you still sticking to the old-fashioned customer retention strategies?

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Customer retention Journey mapping Education Feedback 52

ijgolding

DECEMBER 16, 2015

I am not going to bore you with a list of everything that has struck me over the last 12 months, but I am going to focus on one thing in particular that has stood out for me – and that thing is best summed up by the word ‘education’! Continuing education is and should be for everyone – from top to bottom.

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Education Customer Experience Customer centricity Consulting 59

Nicereply

FEBRUARY 2, 2024

Source SuperOffice In today’s competitive environment, where customers are spoiled for choice, customer success has become a key competitive differentiator. As such, you must find ways to educate and guide your customers on how to gain maximum value from the products they’ve purchased.

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Education Accountability Customer retention Journey mapping 59

Education Services Group

NOVEMBER 25, 2019

As the gospel of Customer Success is spreading like wildfire in the corporate world, executives are realizing that they need to act fast to incorporate it into their organizational structure. But to their own detriment , some of these executives aren’t fully committing to the importance of Customer Success.

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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%. Shocker, right? Automated Marketing for Augmented Engagement.

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Customer retention B2C Entertainment Consulting 73

CustomerSuccessBox

MARCH 7, 2022

Customer retention is the lifeblood of a SaaS company. Where the foundation of SaaS customer retention is renewals. According to a research study, a mere 5% increase in customer retention can lead to a 25% increase in company profits. Retention is the sole goal of renewal managers. Renewals Manager.

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SaaS Upselling Customer retention Accountability 52

SmartKarrot

OCTOBER 13, 2023

Retaining those customers for the long haul is equally, if not more, essential. A high customer retention rate is a testament to a company’s customer-centric approach, resulting in increased profits, positive word-of-mouth, and enhanced brand reputation. Educate and Empower: Empowered customers are loyal customers.

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Customer retention Customer centricity Education Feedback 10

Education Services Group

AUGUST 17, 2021

Drop a new CSM into an open spot on your team and they’ll be reacting to customer needs as well as they can. Educate that same CSM with deeper understanding of Customer Success and best practices and they’ll be a proactive, efficiency generating maniac! This CS-specific education will benefit everyone, not just CSMs.

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delighted

FEBRUARY 16, 2023

Since acquiring a new customer can cost 7x more than retaining an existing customer, focusing on long-term customer success is crucial for growing businesses. In this post, we’ll cover: What is customer success? In this case, account managers support a particular set of dedicated customers.

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Customer retention Metrics Feedback Accountability 52

Education Services Group

DECEMBER 2, 2021

NPS uses a simple scale and has the advantage of being quick and easy for customers to fill out. The industry depends on NPS scores to provide insight into customer satisfaction, account performance, and risk. But now, PES is on the scene with some new customer intelligence data that you can really sink your teeth into.

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Customer retention Metrics Education Accountability 52

CustomerSuccessBox

APRIL 29, 2022

It is because as they kept acquiring new customers, they overlooked the existing ones! As a result, customers churned and the firm couldn’t do anything about it. If not, start focusing on customer retention. Plan the best SaaS Retention strategies that ensure customers stay with you for long.

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SaaS Customer retention Metrics B2B 52

CustomerSuccessBox

JUNE 21, 2022

This leads to a smooth transition of customers and creates a better customer experience. A best practice for a firm’s growth is to create more cohesion among departments working toward a unified goal —long-term customer retention. Customer Education. Yes, educating your customers is crucial.

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Education Customer retention Sales B2B 52

ChurnZero

MAY 4, 2023

There’s a closely held growth secret among large B2B professional services firms, like consultants, accountants and law firms, that Customer Success Managers (CSMs) might appreciate: The more relationships a client has across a firm, the lower that client’s flight risk.

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SaaS Best practices Gamification Feedback 98

CSM Magazine

JANUARY 8, 2024

Explore whether customer-facing support positions align with your preferred communication style or not. What are your abilities and education? Entering a consumer services role is optimal with prior customer service experience, showcasing your ability to address product/service issues and manage upset customers.

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Healthcare Real estate Education Banking 52

CSM Magazine

JUNE 22, 2023

Integrating high-quality data into their customer service strategies will help companies achieve their goals, including increased customer retention rates, improved brand reputation, and higher profitability. This proactive approach can further enhance business reputation and foster strong customer relationships.

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Customer Service CRM Accountability Customer retention 52

SmartKarrot

JANUARY 20, 2021

These metrics include Annual Recurring Revenue (ARR), Customer Lifetime Value (CLV), Customer Acquisition Cost (CAC) and Churn. But one of the metrics which is often overlooked, yet stands at par with above metrics, is Customer Retention Cost (CRC). Customer retention is one of the primary goals for a SaaS business.

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Customer retention SaaS Education Customer centricity 11

Amity

JULY 30, 2018

It’s no secret that successful adoption plays a huge role in customer retention rates. As a CSM, improving product adoption should be a top priority for you in order to ensure your customers’ long-term success. Talk to your customers, don’t hide from them. Let's get started! Let's get started!

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Brand ambassadors Coaching Education Customer retention 174

Education Services Group

JULY 20, 2021

Product updates, like Marley talked about in the webinar, aren’t likely to be considered spammy because their focus is on information and education. Outside of that, one major thing to think about when automating is the number of actions you automate to the customer aren’t the only automations.

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Beyond Philosophy

APRIL 14, 2022

However, here are some of the stats that stood out to me most: 73% of business leaders reported a direct link between customer service and business performance. 64% of business leaders say that customer service has a positive impact on the company’s growth . 60% say customer service improves customer retention .

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Contact Center Upselling Engineering Education 195

ClearAction

DECEMBER 5, 2023

Right the First Time leads to Freed-up Resources, which reduces Customer Acquisition Costs, Customer Service Value costs, and Customer Retention costs (Customer Health Score), which lead to Margin Expansion. You rely on customers’ funding for your salaries, budgets, and profit-sharing.

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Metrics Chief Customer Officer Customer retention Strategic Value 62

Solvvy

SEPTEMBER 10, 2020

With health-related lockdowns and economic instability emerging quickly in March of 2020, fast-growing fin-tech startup Stash saw an increase in new IRA account creations of nearly 60%. How did Stash ensure they were prepared to address the needs of their rapidly growing customer base? Ensuring the Security of Client Data.

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Chatbots Customer Support Education Self service 62

ClientSuccess

JANUARY 11, 2023

Regularly monitor customer performance and identify opportunities for improvement. Measure customer success metrics for meaningful insights. Focus on customer retention and long-term ROI. Advocate on behalf of the customer —even if it means making a sacrifice in terms of time, cost, or other resources.

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Benchmark Upselling Education Best practices 80

SmartKarrot

NOVEMBER 2, 2020

Customer retention is very challenging for businesses especially in 2020. The unprecedented times and business environment have made it uncertain for business leaders on what steps to take to retain customers. So, retaining customers becomes necessary for any company to sustain itself in this economic turbulence.

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Education Services Group

OCTOBER 31, 2023

I crave to immerse myself in my customers’ stories. Simplify reporting so I can quickly focus on my accounts. Product and Partner Updates : Light up my world with notifications about new releases, campaigns, partnerships – everything that shapes our customers’ experience.

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Best practices Finance Upselling Customer retention 52

The Northridge Group

JUNE 2, 2023

Business customers are often looking for a different type of CX than consumer customers. They are more educated about the purpose of your outbound calls, and they base their expectations about what the overall experience should be on prior knowledge. They regularly charge customers a small daily storage fee.

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Totango

DECEMBER 28, 2021

Follow up initial training with continuing education opportunities for successful team members. Consider making paid continuing education a perk to help attract top talent. For example, scheduling automated reminders to go out at designated intervals prior to renewal can reduce the risk of customers forgetting to renew.

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Best practices Benchmark Education Surveys 95

CSM Practice

DECEMBER 19, 2021

Irrespective of your selection, the technology should help you measure the metrics that matter the most like: Net Retention Rate . Customer lifetime value (LTV). 360-degree Account health. This translates to increased productivity and enhanced customer engagement. Customer Retention increases as churn reduce. .

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SmartKarrot

MAY 18, 2020

Goes without saying, customer retention is an important aspect of the success of any organization. Research claims that 78% of the global business leaders rank customer retention rate as a crucial tool in the upliftment of any given business. This is when the game of customer retention strategies come into play.

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CSM Practice

JANUARY 13, 2021

For many startup companies, the renewal process usually begins with the personnel in charge of the account reaching out to customers to start the renewal conversation. Account review and summary of previous interactions. Discovery of customer satisfaction and business outcome from the product. Renewals Manager.

SaaS 98

SaaS Customer centricity Accountability Education 98

Totango

AUGUST 21, 2020

Customer success focuses on the customer journey as a whole and puts CX into the context of the customer’s overall needs and business goals. Account Management Vs. Customer Success. Why Invest in Customer Success? Increase customer-centered growth through expansions.

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Enterprise Customer centricity Accountability Customer advocacy 78