Lumoa

APRIL 28, 2024

In This Article: Why You Need a Customer Experience (CX) Platform Platform Overview Which Platform Fits Your Needs? You can even find opportunities for cross-selling, upselling, or personalized promotions by using real-time insights and trends generated by AI. You reach them where they are with the messages that resonate with them.

Feedback 83

Feedback Consulting Consulting Enterprise 83

Totango

MARCH 5, 2021

Second , you can use your current CRR as a baseline to set goals and benchmarks for improvement. Retaining customers is far less expensive than the cost of acquiring new ones and can bring growth in the form of upsells from current customers. A Positive Customer Retention Rate Leads to Renewals and Upsells.

Customer retention 86

Customer retention Upselling Enterprise Benchmark 86

Totango

JUNE 4, 2021

By tying your cross-sell and upsell offers into your customers’ actual use of your product, you not only increase engagement, but you increase the attractiveness of your offers, helping boost your revenue. You can also elicit feedback after customers achieve customized benchmarks. Reward Customer Loyalty.

B2C 62

B2C Upselling Journey mapping B2B 62

Totango

AUGUST 18, 2022

In this article, we’ll cover what you need to know to create an effective onboarding checklist. It also promotes higher product usage, increases the likelihood of upselling purchases and encourages customers to become enthusiastic brand advocates. Establishing benchmarks representing progression and completion of onboarding.

Journey mapping 93

Journey mapping SaaS Upselling Enterprise 93

CustomerSuccessBox

DECEMBER 9, 2021

This article aims to compile the key Customer Success KPIs we have to look out for in our Customer Success journey in 2022. It is becoming an increasingly ineffective measure in the sense it does not give actionable insights but a good NPS score is still a big Customer Success benchmark. Even we cannot believe it. NPS is a weird one.

SaaS 52

SaaS Benchmark Customer advocacy Upselling 52

TLC Associates

JULY 24, 2019

Studies by Bain & Company show the effort to increase customer retention by 5% produces 25% additional profits through upsells, cross-sells, and customer referrals. Your retention rate is more than an arbitrary benchmark. Related Articles. Follow us on LinkedIn to read similar articles: . Get my guide!

Customer retention 49

Customer retention Benchmark Upselling outsourcing 49

GetFeedback

AUGUST 30, 2019

Information like this is invaluable when conducting a review of your business, or as a means of benchmarking your service against competitors. On the other hand, you can also use an exit survey to upsell customers. Editor’s note: This article reflects the personal opinions of our guest author, Nick Brown. .

Surveys 110

Surveys Entertainment Benchmark Upselling 110

Totango

FEBRUARY 10, 2021

To put your goals of promoting customer success into action, you can define benchmarks that measure success in quantifiable terms. Defining desired outcomes enables you to establish benchmarks that can be used to measure customer success. Set Success Goals for Each Stage of Your Customer Journey Map.

Customer retention 85

Customer retention Journey mapping Benchmark SaaS 85

Totango

JANUARY 29, 2021

Successful customers become more likely to make cross-sell and upsell purchases. For best results, goals should be expressed in terms of quantifiable key performance indicators so that you can establish benchmarks and measure progress. With an improved customer experience, churn rates decrease, increasing retention.

Best practices 80

Best practices Benchmark Upselling Accountability 80

Netomi

APRIL 19, 2022

Additionally, for those games that earn money with in-game purchases, there is the potential for upselling (encouraging players to spend more, and upgrade with additional features), in the exact moment of relevance. Additionally, of the companies that do have an email address, nearly 76% ignore simple customer service emails.

Customer Experience 64

Customer Experience Chatbots Self service Construction 64

Fonolo

JULY 5, 2023

How they approach upselling opportunities Upselling is something that all your customer-facing employees should be doing — not just sales. Track mentions in publications People don’t just talk about you on social media, they also talk about you in their own blogs, news articles, and other online publications.

Surveys 104

Surveys Brand ambassadors Sales Upselling 104

Totango

JUNE 23, 2020

Strong scores could encourage you to take action in the form of upsell, cross-sell, and expansion campaigns , or by developing a customer case study or asking the customer to speak at an event. This shows how NPS data, as with all metrics, is only useful if it is actionable. 6 Best Practices for Your CS Team. Get started for free today.

Best practices 62

Best practices Brand ambassadors Surveys Enterprise 62

Lumoa

NOVEMBER 29, 2021

In this article, we explain the relationship between revenue growth and customer experience. Don’t just trust what the industry benchmarks say but test the linkage yourself with your own data. Find out about the challenges and priorities of customer experience leaders, benchmarks for budgets, KPIs, and customer-centricity.

Customer Experience 103

Customer Experience Metrics Feedback Banking 103

ChurnZero

JULY 9, 2020

in their article on which emotions make successful customer relationships. Benchmarking – Entering the arena to win an award provides the opportunity to compare your Customer Success team with others in the industry. Uncover Opportunities With Upsell Campaigns. Fulfill Your Customers If You Want to Retain Them.

SaaS 64

SaaS Marketing Upselling Chief Customer Officer 64

Transparent BPO

AUGUST 20, 2019

“Customers must be asked and their responses benchmarked consistently and continually to turn your contact center into a profit center,” the whitepaper says. Read my article at Nearshore Americas — How to Improve Contact Center CSAT Scores and Rake in The ROI — for more on this subject.) Free guide shows you how.

Contact Center 69

Contact Center outsourcing Surveys Call flow 69

JivoChat

AUGUST 18, 2021

This kind of customer-centric mentality can drive new business, boost customer retention rates, and create new benchmarks for goals. This article is your guide on how to improve customer experience in 2021. Chatbots can provide service at all hours, increase customer satisfaction, upsell customers, and even boost conversion rates.

Customer Experience 52

Customer Experience Chatbots Customer retention Feedback 52

Pointillist

MARCH 22, 2018

JetBlue has in the past made as much as an additional $140million in revenue through its upsell program called ‘Even More Space.’. There are many such examples of B2C and B2B companies that are using upsell and cross-sell opportunities to generate profits. In this post, I take a detailed look at: What is upsell and cross-sell?

Upselling 71

Upselling Analytics B2B B2C 71

JivoChat

MARCH 25, 2021

In this article, we’ll share 10 live chat statistics that show how live chat can help improve the customer experience, lower costs, increase revenue, and ultimately deliver a positive ROI for your business. Also, make use of upselling and cross-selling strategies to boost your average ticket size and sell more.

Wait times 52

Wait times Sales Scripts B2B 52

JivoChat

MARCH 25, 2021

In this article, we’ll share 10 live chat statistics that show how live chat can help improve the customer experience, lower costs, increase revenue, and ultimately deliver a positive ROI for your business. Also, make use of upselling and cross-selling strategies to boost your average ticket size and sell more.

Wait times 52

Wait times Sales Scripts B2B 52

ProProfs Blog

DECEMBER 4, 2020

It has also become a benchmark that can impact your brand image and, if not done right, can easily hamper your marketing efforts at the same time. Both the teams can identify knowledge gaps by keeping a track of: What keywords were used by visitors to find relevant self-help articles in the knowledge repository? That’s not all.

Marketing 147

Marketing Customer Service Upselling Customer Support 147

Totango

MAY 7, 2024

If CS doesn’t have commercial conversations with healthy customers, they’re not setting Sales up to re-enter the conversation and potentially upsell. That way, both teams can use those outcomes as a benchmark of success throughout the customer journey. Use your words Talk to each other! This doesn’t just provide a useful shared goal.

Sales 97

Sales Upselling Metrics Accountability 97

SmartKarrot

DECEMBER 2, 2022

It is money earned after the original purchase and obtained through upselling, cross-selling , and renewals to your current clientele. As a benchmark, a business should aim to generate 30% of its overall revenue from expansion; yet most SaaS companies only generate 10% on average. This is where IDEM comes into the picture. Cross-sell.

Upselling 21

Upselling Management SaaS Benchmark 21

SmartKarrot

AUGUST 16, 2022

These are the primal questions you will find answers to in this article. Only when some metric goes off the benchmark can you know something is wrong. All things renewal, upsell, and other expansion formats can be considered. What are QBRs? What are EBRs? Why do some experts consider QBRs to be a waste of time? What is QBR?

Chief Customer Officer 10

Chief Customer Officer Benchmark Finance Metrics 10

Lumoa

JANUARY 31, 2023

In This Article: Why do you need Customer Experience Management? Leaders in a variety of business industries use NPS , which makes NPS a great benchmarking tool. At the same time, it’s also an industry-standard metric, which means you could benchmark the results. Voice of the customer: where to start?

Customer Experience 176

Customer Experience Customer centricity Metrics Feedback 176

Totango

JANUARY 10, 2024

Use baselines to track customer outcomes It’s typical for organizations to measure their client’s performance against industry best practices and use those numbers as a benchmark for success. By delivering against expectations defined early on, the sales and CS teams can partner to drive upsells and cross-sells.

Sales 93

Sales industry standards Benchmark Healthcare 93

Totango

JULY 1, 2022

In a B2B SaaS context, SaaS customer loyalty is expressed primarily through actions like subscription renewals, upsell purchases, referrals and product engagement. Other important loyalty metrics include subscription renewal rate , churn rate, upsell rate, and customer lifetime value.

B2B 108

B2B SaaS B2C Upselling 108

ChurnZero

MARCH 31, 2023

If the vendor has been smart enough to collect aggregate data about how its customers use the product or service, it can also offer useful benchmark metrics to bolster that guidance.” If your customer churn rate is higher than these benchmarks, chances are, your company would benefit greatly by redoubling its efforts on Customer Success.

Benchmark 98

Benchmark B2B Accountability Consulting 98

Totango

JUNE 24, 2022

SaaS success outcomes can be defined in terms of measurable digital benchmarks. On the other hand, when data reflects high customer satisfaction, CS teams can extend upsell offers or referral invitations. Expansion of product usage through upgrade, upsell and cross-sell offers. Conversion from freemium to paying customer.

Best practices 103

Best practices SaaS Journey mapping B2C 103

SmartKarrot

APRIL 23, 2020

A Customer Success benchmark report found out that following are the titles used in a Customer Success team: CSM or CS-rep (61%) VP of CS Managing Director CS CSM Director KAM or AM Customer Experience Others. Refer the article for a detailed Customer Success job description. How does the CSM role overlaps with other roles/ functions.

Management 10

Management Complaint resolution Customer retention Engineering 10

NobelBiz

JULY 25, 2023

In this article, we delve into the insights that these analytics provide, enabling companies to enhance service quality and understand their customers better. Check out this article and some best practices on Performance Management for Leaders, Managers and Agents.

Analytics 98

Analytics Call Center Scripts Contact center software 98

Lumoa

FEBRUARY 20, 2018

Leaders in variety of business industries use NPS , which makes NPS a great benchmarking tool. At the same time, it's also an industry standard metric, which means you could benchmark the results. Upsell to the promoters and introduce new/additional services and products. Here's a PDF summary of the article.

Customer Experience 150

Customer Experience Customer centricity Feedback Metrics 150

ProProfs Blog

DECEMBER 21, 2020

Stable customer base results in higher referrals, improved upsell revenue and increased lifetime value (LTV) which further results in improved customer acquisition in future. In this article, we’ll help you: What is customer churn and customer churn rate. The pertinent question here is – what aspects do you benchmark?

Surveys 148

Surveys Benchmark Feedback Sales 148

JustCall

MARCH 9, 2023

In this article, we’ll walk you through everything you need to know about conversation intelligence software and how your business can harness the power of conversational AI to enhance buying experiences. You can compare your reps’ performance with industry benchmarks across industries and roles.

Coaching 52

Coaching Sales Chatbots Analytics 52

Amity

JANUARY 27, 2016

In this article, Srinivas Kulkarni offers advice to what SaaS companies can do to reduce churn and keep customers satisfied. • The Link Between Customer Success, Retention, and Upsells. Satisfied customers will have a positive impact on your bottom line because creating brand advocates leads to renewals and upsell opportunities.

Upselling 57

Upselling SaaS Best practices Sales 57

Totango

FEBRUARY 15, 2019

In addition, there are a few common ratios that allow you to normalize and compare (benchmark) usage patterns. Close to 100%, it reflects full adoption and upsell opportunity. I hope this article helped you organize your thoughts around product usage and adoption for SaaS and cloud products. Here are the most common ones.

SaaS 70

SaaS B2C B2B Metrics 70

Comm100

FEBRUARY 20, 2018

Articles about Chatbots boast the innovation that they bring to the table and paint artificial intelligence (AI) as the future of customer service and marketing. According to our 2018 Live Chat Benchmark Report , Comm100’s Chatbot takes care of about 20% of all incoming live chat inquiries alone. Drive Revenue.

Chatbots 53

Chatbots Contact Center Benchmark Chief Customer Officer 53

ClearAction

NOVEMBER 16, 2023

Voice of Customer Maturity: Ultimate Guide Lynn Hunsaker Voice of customer maturity is not about scores, real-time feedback, response rates, listening posts, benchmarks, or comparisons of B2B versus B2C trends. So, what does it mean? Let’s look at a sports analogy for enlightenment.

B2B 62

B2B Feedback B2C Enterprise 62