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Technology Based Solutions to Enhance Customer Retention Strategies

TechSee

It is well known that the acquisition costs of converting new customers far outweigh the cost of maintaining current customers, further motivating companies to find and implement innovative customer retention strategies. Technology – key to successful customer retention strategies.

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How to Calculate the Cost of Customer Retention Versus Customer Acquisition

Totango

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. Price comparison engines.

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5 Top Customer Service Articles For the Week of April 26, 2021

ShepHyken

Shifting the Customer Experience from a Cost Center to a Profit Center by Brian Solis. ZDNeT) Customer service is experiencing a renaissance, and with the right imagination, intention, and technology, it can also become a business growth engine by driving satisfaction, sales, and loyalty. Think about that!

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Customer Retention Strategy: Measuring & Managing Subscription Consumption

Education Services Group

Usage metrics are critical indicators of how well your products are helping customers achieve their desired outcomes, which in turn influences your customer retention strategy. If usage is low, odds are that your customer sees little if any value in your solution. Your Customer Retention Strategy Relies on CSMs!

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20 Business Leaders Share How Call Centers Can Address Increased Customer Vulnerability

Callminer

More effectively identifying and managing customer vulnerability isn’t just a benefit for consumers, companies that can successfully support vulnerable customers deliver better customer service and improve customer retention and loyalty. Second, inform customers of what you’ll never ask of them.

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The Age of Online Communities: How to Create Branded Communities and Why You Should Bother

CSM Magazine

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. Online communities serve as content engines that follow a one-to-many principle. Growing Customer Retention.

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Call Center Management: Challenges, Strategies, Tips, and Best Practices

Hodusoft

Call Center Management: Challenges, Strategies, Tips, and Best Practices In today’s time, setting up a call or contact center is extremely easy. In such time, the words of noted American business executive, chemical engineer, and writer Jack Welch ring true even after so many years. Why do businesses need call center management?