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.

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Totango

APRIL 30, 2021

Comparing the cost of customer retention versus customer acquisition underscores why retaining clients is so important. Here’s how to calculate both kinds of costs and why retention should form part of a profitable business strategy. Calculating the Cost of Customer Acquisition. The result is your average CAC.

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Customer retention Advertising Engineering Upselling 63

aircall

JUNE 30, 2021

Many look to the company for ways to improve customer retention. Email: Ring’s Secret to Improve Customer Retention. For one thing, it sends new customers emails to share tips on properly setting up the product. However, Ring is not the only company to reap the rewards of its stellar customer retention strategies.

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ProProfs Blog

FEBRUARY 22, 2019

A Forrester report highlights increasing customer retention by 5% can increase profits by up to 95%. Loyal customers spend about 30% more with brands than new customers. An investment to increase retention by 5% is surely a worthy business investment. Simple formula: Customer Retention = Engagement + Investment.

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Customer retention Airlines B2B CRM 123

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. Update Customer Knowledge Bases. This is shocking.

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Customer retention Chief Customer Officer SaaS Accountability 97

Nicereply

JANUARY 9, 2023

Are you a B2B Business? Get the most out of your surveys and improve customer satisfaction. Your business relies on customer satisfaction for a lot of things. If your customers are unhappy, they leave. Alternatively, you can improve the customer experience by building a robust FAQ page/knowledge base.

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Omni-channel support B2B Interactive Voice Response Feedback 52

Amity

SEPTEMBER 19, 2018

Focus on the post-sale process. Naturally, even a top-class digital campaign won’t be enough in itself to retain your customers. You need to continue demonstrating value to your customers even after they purchase from you. However, developing and executing this part of your digital marketing strategy can be quite tricky.

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ShepHyken

AUGUST 6, 2023

Since the beginning of my career, I’ve preached about that many customer service skills and CX strategies apply to every type of company in any industry. That includes B2C, B2B, and G2C (Government to Citizen). Happy and satisfied customers mean that you can maintain regular sales and profit, which can help you maintain success.

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Customer Service B2C Customer retention Government 156

SmartKarrot

APRIL 22, 2022

However, customer acquisition is something that demands focus! Customer retention is a particularly important concept where businesses use different strategies to retain their existing customers. B2B companies will have to bank on customer retention as a key strategy to achieve long-term growth.

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Customer retention B2B Banking Finance 10

TeamSupport

NOVEMBER 10, 2020

Product sales practices must fully embrace the role of services in helping customers to adopt and apply products. It is no longer sufficient to sell only product features and assume customers can be successful [after the sale]. Create Awareness and Demand for Services.

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Customer Support B2B Coaching Education 59

Nicereply

MAY 14, 2019

Strong communities form an important part of customer retention strategy, because they keep customers coming back for more. Let’s contrast a community strategy against traditional sales tactics. A big reason why customers can feel hostile to sales tactics is because they don’t think they are getting enough in return.

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CustomerSuccessBox

SEPTEMBER 15, 2021

Likewise, a customer success manager can be instrumental in retaining a customer who is currently on a free trial by guiding them through the process, answering questions, and providing key support at an early stage. Suggested Reading: Designing a Customer Onboarding Framework for B2B SaaS. Customer Retention.

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outsourcing B2B SaaS Feedback 52

TeamSupport

AUGUST 3, 2018

In this scenario, it’s not up to the sales team to provide the victory, but instead the onus falls squarely onto the customer success group. With customer retention critical to business success, fending off the competition means a healthy balance sheet and minimal churn.

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B2B Self service B2C Morale 56

JivoChat

APRIL 8, 2021

There are many benefits of customer engagement tools, as they can help your company do the following: Boost Sales and Revenue. Do you know that 86% of customers will pay more to get a great customer experience? So, striving to deliver excellent customer service is a surefire way to increase your sales.

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TeamSupport

NOVEMBER 11, 2020

ServiceXRG suggests that by establishing standardized service sales processes and leveraging service sales automation, companies can assure that every service opportunity adheres to configuration and quoting practices.

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Customer Support Coaching Education Engineering 98

Kayako

MAY 16, 2018

Here are 7 ways that you can use phone calls and live chat to give your customers more immediate gratification and increase your company’s revenue. Calls and live chat increase customer retention and upsell opportunities. How does this apply to sales and marketing? When your customers are satisfied, they stick around.

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Customer retention Upselling Sales Feedback 59

ShepHyken

NOVEMBER 29, 2021

Yes, it’s focused on retail, but with supply-chain issues hitting virtually every industry (B2C and B2B), the ideas shared in this article are applicable to most businesses. 5 Smart Strategies That Help Avoid Losing Loyal Customers by Natalya Bucuy. If you are in a business that ships merchandise, then you must read this article.

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TeamSupport

AUGUST 3, 2018

In this scenario, it’s not up to the sales team to provide the victory, but instead the onus falls squarely onto the customer success group. With customer retention critical to business success, fending off the competition means a healthy balance sheet and minimal churn.

B2B 40

B2B Self service B2C Morale 40

TeamSupport

OCTOBER 27, 2022

Good customer service increases retention. Like the Fosbury, good customer support can get complicated fast despite stemming from a simple core tenet of customer-centricity. But if a business does commit fully, one of the greatest effects is a spike in retention. The average customer churn rate is 21%.

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Customer Service Customer retention Customer Support Customer centricity 98

ProProfs Blog

FEBRUARY 13, 2020

To help you understand this further, we’ve put together a list of 60+ customer loyalty statistics that have been divided into the following categories: Customer Loyalty Program Statistics. Benefits of Improving Customer Loyalty. Customer Loyalty B2B Statistics. Social Media & Customer Loyalty.

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Customer retention Sales B2B Marketing 164

ChurnZero

FEBRUARY 23, 2023

Further, additional sales with existing customers have a lower customer acquisition cost (CAC). That’s why ChurnZero believes customer retention and loyalty are the most important stages of customer lifecycle management. Yet what happens after the initial sale isn’t always top of mind for most businesses.

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Management Customer retention Upselling Chief Customer Officer 52

ChurnZero

FEBRUARY 23, 2023

Further, additional sales with existing customers have a lower customer acquisition cost (CAC). That’s why ChurnZero believes customer retention and loyalty are the most important stages of customer lifecycle management. Yet what happens after the initial sale isn’t always top of mind for most businesses.

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Management Customer retention Upselling Chief Customer Officer 52

JivoChat

JULY 25, 2021

Fortunately, a variety of plugins from multiple developers can help you fine-tune the customer experience and improve customer retention. Following are some of the best WooCommerce plugins for improving the customer experience. You can also customize the look and layout of wishlists. Key features. Key features.

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Sales Accountability Upselling B2B 52

CustomerSuccessBox

APRIL 29, 2022

* ABS corp , a B2B SaaS firm acquired as many customers as it wanted. 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. Yet, success remained elusive.

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SaaS Customer retention Metrics B2B 52

CustomerSuccessBox

MAY 26, 2021

If you start looking online for a Customer Success Platform or a solution you’ll most likely come across a lot of discussion about “B2B SaaS, which might cause you to wonder if Customer Success software is only for Subscription-based, B2B companies. Increased customer loyalty and customer retention.

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SaaS B2B Upselling Customer Support 52

Nicereply

MAY 11, 2022

Customer success is one of the most important metrics you need to track if you’re running a B2B business. It contributes to the overall customer experience, and high customer success can mean repeat business and more referrals. 1. Reduced customer renewals. As for your customer support team, it is no different.

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Customer retention Customer Support Feedback Metrics 96

ProProfs Blog

MAY 24, 2019

To gain prominence in eCommerce, brands have to realize that there are two ways they can put this context into use: customer acquisition and customer retention. 8 Ways to Increase the CLV of Your Customers. Encourage Customer Engagement via Email Marketing. Simplify Their Onboarding Process.

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ProProfs Blog

JANUARY 30, 2020

Successful Customer Engagement. Benefits of Customer Engagement. Customer Engagement Challenges. Customer Engagement Expectations. Mobile Customer Engagement. Impact of Customer Engagement On Sales. Personalized Customer Engagement. Impact of Customer Engagement.

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B2B Banking Personalization Employee engagement 204

OctopusTech

JUNE 23, 2020

Mostly, B2B companies have financial contingency plans to deal with such economic downturns but how does a company stay afloat when the entire world has come to a standstill and businesses are unable to conduct typical day to day operations? Focus on Customer Retention. And, this gesture will give a boost to future sales growth.

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Telemarketing outsourcing Average Handle Time B2B 62

Comm100

JANUARY 21, 2020

B2B vs. B2C conversion. B2B and B2C digital journeys have their own set of channel preferences. B2B companies have been slower than B2C in adopting digital transformation. However, they’re catching up quickly in response to customer demand—and it’s paying off. B2B tends to expect responses within 1-24 hours.

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B2C B2B Benchmark Best practices 83

Nicereply

NOVEMBER 21, 2023

Transactional NPS Surveys What They Are: Transactional NPS surveys are deployed immediately after a customer has had a specific interaction with your company, such as making a purchase or talking to customer support. Customer Churn: An NPS survey when a customer leaves can tell you why they’re going.

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Surveys B2B Feedback Education 59

IdeasUnlimited

SEPTEMBER 19, 2022

In this blog, we’ll be sharing how, in our experience, customer service can help companies improve their outlook. Customer Trust. According to one research , direct human interaction is the biggest sales driver in a business. Customer support helps create that much needed bridge between sales and acquisition.

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SmartKarrot

MARCH 17, 2022

B2B businesses need to reward their loyal clients frequently. While B2C loyalty programs are quite popular, B2B SaaS companies have to keep certain best practices in mind. B2B companies need to focus on driving revenue and sales while incentivizing existing loyal customers. What is a B2B Customer Loyalty Program?

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Best practices B2B B2C SaaS 10

JustCall

MARCH 23, 2023

Simply put, omnichannel is the provision of customer support over all channels. You need to reach your customers wherever they want and wherever they are active. The increase in customer loyalty channels better opportunities for your business. This helps build a positive, customer-oriented reputation.

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outsourcing B2B B2C Marketing 52

Nicereply

FEBRUARY 2, 2024

This will, in turn, will help you: Build stronger customer relationships Earn customer trust Improve customer satisfaction Happy and satisfied customers often become advocates who rave about your brand on social media and review sites.

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Education Accountability Customer retention Journey mapping 59

CSM Magazine

JULY 22, 2021

Henry Spitzer, VP of Sales at Lusha explains how community building is a powerful and cost-effective way to increase retention by creating a central destination for users to find support, advice and best practices. Gone are the days of static one-sided advertising that speaks at the customer. Growing Customer Retention.

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Advertising SaaS B2C Engineering 98

CSM Magazine

APRIL 13, 2021

Use Self-Service Knowledge Base for Customer Support. While focusing on customer acquisition is important, you should not forget about customer retention. The future revenue of your SaaS startup depends on building lasting relationships with your customers.

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SaaS B2B Self service Analytics 52