Nicereply

JULY 21, 2022

A good customer retention strategy is the top investment you can make for your business. It’s more profitable than acquiring new customers, and it costs less money to keep existing customers than to acquire new ones. Invesp found that acquiring a new customer can cost five times more than keeping an existing one.

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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.

Customer retention 63

Customer retention Advertising Engineering Upselling 63

Global Response

AUGUST 7, 2023

There’s no business out there who doesn’t want to improve their customer retention and CLV. The secret weapon to improving customer retention and CLV? First, customer retention rates are always measured based on a specific timeframe, typically monthly, quarterly or annually. Your call center.

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Customer retention Call Center Upselling Personalization 62

Nicereply

JUNE 18, 2020

Customer retention is the act of keeping customers engaged, creating customer advocates, and reducing churn before it happens. Imagine you never acquired another customer. Your sales team went home, and all you had left was your current group of customers. What is customer retention?

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Global Response

JULY 28, 2023

Many companies focus primarily on customer acquisition, sometimes at the cost of customer retention. After all, the more customers, the better, right? For example, recent data shows that 92% of customers will switch companies after just three—or fewer—bad experiences.

Customer retention 62

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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? Poor Customer Fit. Prioritize Churn Prevention to Increase Retention and Revenue.

Customer retention 89

Customer retention Sales Marketing Big data 89

Beyond Philosophy

AUGUST 4, 2015

Harvey Mackay, Sales Expert, Author and Columnist. Quality sales cultures are the ones where the Customer comes before the close, like Mackay’s quote indicates here. Ricoh Canada has a real world example of making this kind of change to their sales driven culture and making it work. In many ways, this is smart.

Sales 398

Sales Customer centricity Customer Experience Accountability 398

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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Customer retention Customer advocacy Wait times Brand ambassadors 62

JustCall

OCTOBER 25, 2023

Read this blog to know how you can use post-call surveys to address key concerns and craft a strong customer retention strategy. Why Is Customer Retention Challenging? It is common knowledge that the key to a successful brand is all about having loyal and long-term customers who keep coming back to your brand.

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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.

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Customer retention Sales Marketing Scripts 95

Quiq

AUGUST 19, 2021

It’s imperative to not let it happen by implementing an effective customer retention strategy to improve customer retention. Customer retention is the key to improving your business’ profitability. Customer retention can be one of the hardest things for companies to do.

Customer retention 64

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Fonolo

JANUARY 14, 2020

Which customer service blog posts helped to shape the last decade for you? . When we look back at the customer support industry in 2010, we see a very different beast to the one we work in today. Here, we cover the 20 best customer service blogs and influencers to follow in 2020. Jeanne Bliss.

Customer Service 136

Customer Service Chief Customer Officer Contact Center Call Center 136

Totango

MAY 1, 2020

Retaining existing customers is especially important during uncertain economic times, when fewer new customers may be signing on with your service. That’s why customer retention management software is a vital component of your retention strategy. What Are the Benefits of Customer Retention Management Software?

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Customer retention Management Enterprise Upselling 62

CustomerSuccessBox

MARCH 25, 2021

No matter what era we live in, customer retention is something that will never fade away. Let’s see the process of acquiring new customers. You’ve spent considerable time creating various marketing and sales funnels to convince your customer how your product can solve their problems. Upsell, Expand, and Grow.

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Customer retention SaaS B2B Upselling 52

ViiBE Blog

JUNE 2, 2021

Augmented reality offers an innovative retail experience adapted to digital transformation, an approach that became essential during the remote pandemic-induced industry shift. By making it smooth and easy to visualize and customize products, AR creates an innovative virtual shopping experience, which benefits all areas of retail.

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Sales Entertainment First call resolution Customer retention 52

Verint

DECEMBER 28, 2017

One Millimeter Mindset customer retention moves you and your organization one millimeter outside your current comfort level. One of the biggest differences has to do with how we acquire and then retain customers. More importantly, One Millimeter Mindset customer retention is about today and tomorrow, not yesterday.

Customer retention 36

Customer retention Engineering Coaching Sales 36

Pointillist

JUNE 15, 2018

Much of the marketing world is still focused on customer acquisition, but to improve customer retention will yield f ar better ROI and cost about 5-25X less than customer acquisition. What is Customer Retention? Why Customer Retention Matters. My Customer Retention ?

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Customer retention Analytics Airlines Personalization 110

CustomerSuccessBox

MAY 18, 2022

So has the customer success industry and the content around the space! Searching for blogs in the arena is getting accessible slowly and it’s time you leverage the essential knowledge these blogs have to offer, to flourish! Here is the list of 10 Customer Success blogs to follow and save in your digital library in 2022!

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SaaS Upselling Education Customer retention 52

aircall

OCTOBER 6, 2021

One of the best strategies for increasing engagement and retention is to refine your sales onboarding process. In this article, we’ll look at effective sales onboarding and how it can fundamentally improve the new hire experience for your sales professionals. Defining Effective Sales Onboarding.

Sales 117

Sales Scripts Best practices Feedback 117

ClientSuccess

MARCH 17, 2020

For many people working in the SaaS industry, the term Customer Relationship Management (CRM) has become a blanket ‘catch-all’ term for anything having to do with sales, onboarding, adoption, renewals, and, yes, customer retention. So, do you really need a stand-alone customer retention management solution?

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Customer retention Management SaaS CRM 59

Totango

JANUARY 10, 2024

From there, Beswada explained that the insights are grouped into relevant segments and then aggregated into dashboards accessible across the organization to marketing, product, operations, and sales. I do believe that retention is really the root of both satisfaction and growth.

Sales 93

Sales industry standards Benchmark Healthcare 93

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.

Sales 76

Sales B2C B2B Customer retention 76

Beyond Philosophy

NOVEMBER 9, 2023

Statistic #1: Gallup Analytics says companies that apply the principles of behavioral economics can outperform their competition by 85% in sales growth and more than 25% in gross margins. I have long been an advocate of focusing on customer retention over acquisition. It cripples their customer-driven growth.

Customer retention 195

Customer retention Sales Consulting Consulting 195

Totango

MAY 17, 2024

Leading companies and CS teams are paving the way by providing innovative solutions that leverage AI technologies to accelerate impact and drive customer retention and growth. solution can be as easy as consolidating your sales and customer success information.

Accountability 96

Accountability Government Chatbots Engineering 96

ShepHyken

SEPTEMBER 15, 2023

And this doesn´t just impact initial interactions but contributes to customer retention, too. To keep new and current customers engaged, no business should leave out one of the most important pieces of the customer experience puzzle: email marketing.

Marketing 152

Marketing Customer Experience Entertainment Customer centricity 152

Beyond Philosophy

NOVEMBER 10, 2014

Too many organizations are still not rewarding Customer Experience improvement because they don’t measure it. Despite understanding, many organizations still reward on operationally focused Key Performance Indicators (KPIs) like sales and productivity. Focusing on rewarding these, however, is not conducive to Customer Centricity.

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Customer Experience Customer centricity Customer emotions Employee engagement 295

ChurnZero

DECEMBER 29, 2020

Top 10 Blog Posts from 2020. 9 Well-Meaning Yet Harmful Phrases to Avoid with Customers. This article is a roundup of the not-so-obvious phrases you should avoid saying to a customer no matter how well-intentioned or deserved. Check out this post to see if you’re inadvertently sending subliminal negativity to your customers.

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SaaS Chief Customer Officer Upselling Metrics 98

TechSee

JUNE 16, 2022

This list is an homage to the business leaders and influencers pushing the envelope when it comes to innovation in customer experience. Eric Esguerra, Vice President, Customer Service & Operations at Miele Canada Ltd. Jeff is truly obsessed with customer service. Follow on LinkedIn.

Customer Service 251

Customer Service Chief Customer Officer Contact Center Consulting 251

Comm100

OCTOBER 8, 2016

Your customer retention is super important to your bottom line—after all, customer loyalty is well-known for being more valuable than customer acquisition. With stakes this high, it’s essential that you build a solid customer retention plan that can lead to long-term customer loyalty.

Customer retention 60

Customer retention Scripts Education Marketing 60

TeleDirect

MAY 6, 2024

However, many companies make the mistake of assuming that their product speaks for itself, neglecting their customer service and communication strategy. This often leads to a bad reputation and falling sales, even with a stellar product. Yours will be varied and unique to your branding, industry, and operational strategy.

Call Center 62

Call Center Contact Center Real estate outsourcing 62

CustomerSuccessBox

DECEMBER 4, 2018

That means the customer needs to renew their contract more than once. Without a high customer retention rate, a SaaS company will shut down, no matter how great the other metrics are. You may believe that if the customer does not have any problem, the customer will renew the contract.

Best practices 40

Best practices Customer retention SaaS Metrics 40

aircall

MARCH 19, 2021

For some businesses, they use this customer data to gain unique insights to improve things like sales performance or the customer experience. Increase customer retention. Predict sales and marketing trends. There are four major types of customer data: 1. Common Pitfalls of Customer Data.

Sales 62

Sales CRM Marketing Best practices 62

ShepHyken

AUGUST 14, 2020

Put simply; customer experience can be defined as thoughts and feelings that the consumer associates with the brand. It’s not just about interaction with sales or customer service. Sponsored pieces in newspapers, promotional Instagram videos with influencers, podcasts, and editorial blogs should be included in a good strategy.

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Beyond Philosophy

NOVEMBER 10, 2014

In addition, higher levels of customer satisfaction are tied to high levels of positive cash flows with low volatility, and positive earnings surprises. Keeping Customers results in a high increase in value. Focusing on customer retention with a better Customer Experience will benefit your bottom-line expenses.

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Customer Experience Customer retention Upselling Banking 411

Uniphore

JANUARY 4, 2022

How are you planning to leverage conversations to drive revenue and customer retention? At Uniphore Converse 2022, enterprise executives from CX to Sales will learn the latest innovations in automation, conversational AI and emotion intelligence. Discover new ways to build and enhance contactless relationships with customers.

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CustomerSuccessBox

NOVEMBER 2, 2021

A seamless handoff from sales to customer success to implementation is necessary to deliver the promised early value. This is crucial to make your customer’s experience easier. CS professionals must have felt the grunt of a bad transition from Sales to Customer Success. Why are Sales to CS handoffs a tricky stage?

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Sales Engineering Upselling Customer retention 52

ChurnZero

DECEMBER 27, 2019

I f ChurnZero were to release a greatest hits compilation of our top content, milestones, and life events in 2019, this blog post would be it. With over 70+ published blogs this year, we whittled down our list to the ten most popular posts from the ChurnZero team and friends. . Top 10 Blog Posts from 2019 .

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