CSM Practice

OCTOBER 15, 2019

A TSIA benchmark study on renewal rates showed that there is a 13.7 Per TSIA latest industry benchmark, dedicated renewal teams, automation, and communications boost contract renewal rates by up to 3 points for all surveyed members, and to 10 percentile points for software and hardware businesses.

Benchmark 40

Benchmark SaaS Journey mapping Analytics 40

CustomerSuccessBox

NOVEMBER 23, 2021

In the field, several key indicators are recognized as benchmarks. Before studying the most relevant indicators for your activity, it is necessary to look at the question of satisfaction surveys. Upsell rate. You can use all of these indicators in various studies or use only a part of them. Satisfaction surveys.

Brand ambassadors 52

Brand ambassadors Upselling Construction Surveys 52

Lumoa

NOVEMBER 29, 2021

There is a lot of research and studies about the relationship between financial metrics and customer experience metrics. The financial benefit of improving the customer experience Improved customer experience drives revenue growth Multiple studies have shown that revenue growth is impacted by customer experience.

Customer Experience 103

Customer Experience Metrics Feedback Banking 103

ChurnZero

JULY 9, 2020

Celebrate (and Capitalize) on Success With Case Studies. Case studies are a mutually beneficial way to promote your product and your customer among interested audiences – so long as your features know their place in the story. Uncover Opportunities With Upsell Campaigns. If they outshine your customer, you’ll lose the reader.

SaaS 64

SaaS Marketing Upselling Chief Customer Officer 64

Eptica

APRIL 18, 2018

As part of the annual Eptica Multichannel Study , conducted since 2012, we tested 10 major travel brands (6 airlines and 4 travel agents) on their ability to provide answers to ten routine questions via the web as well as their speed, and accuracy when responding to email, Twitter, Facebook and chat.

Airlines 49

Airlines Customer Experience Multichannel Transportation 49

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. Reducing customer churn is impossible if you don’t have access to the right insights to analyze and use as a benchmark. Share case studies regularly.

Surveys 148

Surveys Benchmark Feedback Sales 148

Totango

DECEMBER 12, 2019

Defining your customer journey also gives you a clear set of milestones and goals to benchmark customer progress. Customers can experience escalation while they’re in the midst of renewal, or some circle back to onboarding due to an upsell. . How to Manage the Customer Lifecycle. Optimizing the Customer Lifecycle Management Process.

Management 64

Management Enterprise Best practices Benchmark 64

Babelforce

AUGUST 13, 2020

Strong areas of focus include upselling, reduced acquisition costs and customer loyalty. The best tool for identifying a shortfall is industry benchmarking. For example: you may want data from surveys to feed directly into your CRM – that will help you to identify opportunities to upsell, or customers who are a churn risk.

CRM 52

CRM Contact Center Upselling Customer retention 52

Fonolo

FEBRUARY 9, 2023

In other places, you might read that the 80/20 principle came from an AT&T study conducted some 30 years ago, that found that callers tended to hang up after 20 seconds in the queue. Another approach to take is to look at the standards guides published by COPC which some in the industry use as benchmarks.

Service level 142

Service level Call Center Abandon rate Metrics 142

SmartKarrot

MARCH 9, 2023

Establish a weekly management system to monitor advancement against important benchmarks and KPIs. Control important team KPIs, including churn, upsells, adoption, and activity management. To help the revenue team reach the NRR goal for your region(s), you will plan effective renewals and spot upsell opportunities.

Upselling 19

Upselling Benchmark SaaS Accountability 19

JustCall

DECEMBER 7, 2022

With these, you can benchmark your team’s performance against its goals and decide on appropriate incentives and training programs. However, you can also calculate monthly recurring revenue to study the impact of different months. But, here we have listed a few that are vital for every business to succeed.

Analytics 52

Analytics Sales CRM Metrics 52

VHT

OCTOBER 18, 2018

They can also access customer history, account information and product lists to personalize service or offer upsells. A 2016 Employee Engagement Benchmark study found that companies with the highest rated CX had 1.5 Employee Engagement Technology. CX experts cannot ignore employees who interact directly with customers.

Contact Center 48

Contact Center Gamification Employee engagement Chatbots 48

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.

Best practices 62

Best practices Brand ambassadors Surveys Enterprise 62

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. Mine studies by Marketing, Advertising, and Public Relations for new insights and for adjusting your VoC methodologies and reporting.

B2B 62

B2B Feedback B2C Enterprise 62

SmartKarrot

NOVEMBER 17, 2022

Map and benchmark competition and share best practices. Upsell services and products. Assist in creating case studies and use cases. Closely collaborate with cross-functional teams (sales, marketing, product) to plan and deliver customer delight & account growth. Measure, track, analyze and report key account metrics.

Benchmark 19

Benchmark Accountability Upselling Engineering 19

JivoChat

AUGUST 18, 2021

This kind of customer-centric mentality can drive new business, boost customer retention rates, and create new benchmarks for goals. Many studies have confirmed that employees who are treated well are more efficient, creative, and productive than those who are dissatisfied with their employer. Treat your employees well.

Customer Experience 52

Customer Experience Chatbots Customer retention Feedback 52

Kayako

MAY 23, 2018

According to InContact’s recent study, a whopping 87% of customers want companies to reach out proactively about customer service issues. Upsell to your existing customers, Handle objections from return visitors who haven’t converted, or. What are you hoping to get out of proactively using live chat? Chat box visibility.

Customer Service 60

Customer Service Benchmark Upselling Feedback 60

Lumoa

JULY 10, 2018

There are lot of research and studies about the relationship between financial metrics and customer experience metrics. The improved customer experience drives revenue growth Multiple studies have shown that the revenue growth is impacted by customer experience. I will first outline what is generally known. So let's get started.

Customer Experience 121

Customer Experience Metrics Banking Feedback 121

Help Scout

JULY 20, 2021

Rather than being prescriptive, they conducted an extensive study around business use cases and how they pertained to changing customer needs. Setting up benchmarks for the standards you’d like to achieve with your customers is an essential step for deepening your customer orientation.

Sales 145

Sales Feedback Metrics Surveys 145

Pointillist

MARCH 20, 2019

A recent Forrester study found that t he revenue of CX leaders outgrew the revenue of their CX laggard competitors by 5 to 1. Cross-sell/Upsell Customers who are delighted with their experience spend more with a business by buying additional products and services. Use past expenditure to benchmark future costs in areas like training.

Customer Experience 59

Customer Experience Banking Metrics Analytics 59

ChurnZero

MARCH 12, 2021

Or they could be benchmarking studies that you’ve done across your customer base or a really interesting customer story where somebody’s doing something unique and innovative. Q: Should the sales team, onboarding team, or Customer Success Manager negotiate and upsell? This comes from me being a sales rep in the past.

Upselling 59

Upselling Personalization Sales Strategic Value 59

Amity

OCTOBER 23, 2018

However, if you have fewer customers who are only on annual contracts and who you upsell and cross-sell to, you would want to keep a closer eye on Net Revenue Churn. This really depends on your industry so you want to familiarize yourself with industry benchmarks.

Metrics 76

Metrics Best practices Customer retention SaaS 76

Fonolo

JUNE 9, 2014

In other places, I’ve read that it came from an AT&T study conducted some 30 years ago, that had found that callers tended to hang up after 20 seconds in the queue. Or how many opportunities to upsell a customer were missed because the customer support agent didn’t have the time to build a relationship with the customer?

Service level 96

Service level Call Center Abandon rate Metrics 96

SmartKarrot

OCTOBER 12, 2022

Account managers do this by cross-selling or upselling more products to existing customers. Do not let your salespeople pressure current customers with upsells and cross-sells. Create a group of customer success managers (CSMs) who will be in charge of assisting clients in reaching their next benchmark.

B2B 10

B2B Accountability Brand ambassadors Customer advocacy 10

Amity

FEBRUARY 2, 2016

According to a study by Gartner Group, 80% of a company’s future profits come from 20% of their existing customers. And not just while they’re scrolling through Facebook or spending hours on YouTube; studies have shown that even at work, people prefer to watch video than read text. Customer Success Salary Benchmark Report.

SaaS 80

SaaS Education Customer retention Sales 80

SmartKarrot

OCTOBER 28, 2022

Instead of focusing on upselling or cross-selling, strategic account management emphasizes collaboration and problem-solving. . Account managers accomplish account expansion through upselling or cross-selling more products to current clients. The next benchmark may be established in collaboration with the client.

Accountability 10

Accountability Management Upselling B2B 10

SmartKarrot

DECEMBER 10, 2020

Studies have shown that because of social media and abundance of digital information, the average human attention span has gone down below eight seconds. There should be a benchmark set for the users to achieve like the high-score achieved by other users. These rewards may include accumulated points, feedback or virtual applause.

Gamification 11

Gamification SaaS Education Upselling 11

Comm100

FEBRUARY 20, 2018

It’s not just companies – studies show that the majority of customers already accept or even prefer Chatbots. According to our 2018 Live Chat Benchmark Report , Comm100’s Chatbot takes care of about 20% of all incoming live chat inquiries alone. And, Chatbots more than pull their weight. Drive Revenue.

Chatbots 53

Chatbots Contact Center Benchmark Chief Customer Officer 53

SmartKarrot

MAY 28, 2020

Focus on Upselling. For SaaS, upselling is important because it lowers customer acquisition costs and generates revenue. Recent studies show that upsells are significant components of the fastest growing SaaS as well as companies with more revenue. Making upsells is quite easy. Retain New Customers.

Customer retention 10

Customer retention SaaS Upselling Analytics 10

Comm100

OCTOBER 11, 2017

Social media can work just as well as call centers to upsell products or capture service-to-sales opportunities, and in this respect, it offers additional opportunities that aren’t possible via traditional phone calls. 30% Customer Care. What kinds of people should you bring aboard? for smooth sailing and easy resolution of customer issues.

Customer Service 49

Customer Service Customer Care Morale Marketing 49

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. The digital era introduced even more touch points in terms of a chatbot, email, WhatsApp, etc.

Management 10

Management Complaint resolution Customer retention Engineering 10

Comm100

FEBRUARY 6, 2018

Studies show that consumers prefer and are more satisfied with live chat over other communication methods, and Comm100 makes it easy for businesses to deliver on these preferences. Free Download] Live Chat Benchmark Report 2018. Set Your 2018 Business Priorities with CCW Digital’s Winter Report.

CRM 42

CRM Enterprise SaaS Marketing 42

Influitive

FEBRUARY 16, 2017

In the hyper-competitive world of SaaS products, building relationships with your existing customers is just as important as acquiring new ones—if not more so, since your customers can easily jump from one product to the next if they aren’t satisfied.

Marketing 61

Marketing B2B SaaS Sales 61