ProProfs Blog

APRIL 17, 2020

And if you successfully increase customer retention rates by 5%, then you can boost profits by 25% to 95%. That’s one of the reasons why y ou formulate strategies to retain your customers. But without numbers or metric data in hand, coming up with any new strategy would only consume your valuable time. So, buckle up.

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Metrics Customer retention SaaS Surveys 142

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. That’s where customer retention comes in.

Customer retention 125

Customer retention Feedback Surveys Metrics 125

ClientSuccess

OCTOBER 8, 2019

And to get good data, you have to have good metrics in place. In the Software-as-a-Service (SaaS) space, it’s important to follow the right data points in order to make smart, customer focused decisions. Here’s our take on a short list of top SaaS metrics your CSM team needs to monitor: . #1: 2: Churn Rate.

SaaS 49

SaaS Metrics Customer retention Surveys 49

Totango

SEPTEMBER 20, 2022

Customer Enablement Essentials: What B2B and SaaS Brands Need to Know. Customer enablement empowers customers by giving them the resources they need to use your product successfully. Here we’ll walk you through the essentials you need to know to harness customer enablement to increase B2B and SaaS sales.

B2B 84

B2B SaaS Education Brand ambassadors 84

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.

SaaS 52

SaaS Customer retention Metrics B2B 52

JivoChat

AUGUST 24, 2021

Many people don’t understand the importance of customer service metrics. Consider that 78% of customers will do business with you again after a mistake if you have excellent customer service. The main challenge is knowing which metrics to track. Unresolved Tickets.

Metrics 59

Metrics Customer Service Upselling Average Handle Time 59

ChurnZero

NOVEMBER 9, 2021

Most of us are aware that it costs less to retain existing customers than to acquire new ones. That means that higher customer retention means higher profits for your business. But what makes a customer leave, and what makes a customer want to stay? It’s vital to customer retention.

SaaS 52

SaaS Customer Experience Surveys Customer retention 52

JivoChat

JULY 20, 2021

People have a lot of options these days, so if you don’t have good customer retention strategies , your business won’t be as stable or profitable. It costs five times as much to win a new customer as it does to retain an existing one. In this post, we’ll reveal why you should start focusing on customer retention and when.

Customer retention 52

Customer retention Gamification Education Self service 52

Global Response

FEBRUARY 7, 2023

There’s a nearly endless amount of metrics you could be tracking for your customer service—but many brands make the mistake of tracking too many rather than too few. Begin with at least 1-2 metrics that measure customer experience directly. While there’s many metrics to choose from, these 5 are the most important.

Metrics 62

Metrics Customer Experience Surveys Customer effort 62

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

APRIL 19, 2022

Enables a comprehensive view of every customer interaction across separate channels that give insights into a customer’s movement, and time spent at a touchpoint and helps detect pain points from a customer’s point of view. Why is it important to have Customer Journey Analytics? Customer Care and Customer Service Team.

Metrics 52

Metrics Analytics SaaS Journey mapping 52

Totango

FEBRUARY 5, 2019

It’s about proactive customer success , not reactive customer service. ROI-focused SaaS strategies should be based on comprehensive data gathered from every customer engagement. That information is then turned into customer solutions that create an ongoing revenue source across the entire customer journey.

SaaS 76

SaaS Upselling Customer retention Benchmark 76

CustomerSuccessBox

FEBRUARY 28, 2022

The net revenue retention rate which you may also state as the net retention rate in SaaS businesses is an indicator that depicts the profits and the revenue earned by the business. Let’s look at some of the best net retention rate and how they are doing good at it. Which is the key customer retention metrics to track?-

SaaS 52

SaaS Best practices Enterprise Customer retention 52

Totango

MAY 19, 2020

The continuing COVID-19 health crisis may well produce a recession that has a significant impact on the Software-as-a-Service (SaaS) industry. No one is certain how this will change the long and short-term behaviors of customers, lenders, and enterprises in a SaaS world. Be Lean and Agile to Reduce Customer Churn in SaaS.

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SaaS Best practices Enterprise Finance 77

CustomerSuccessBox

JULY 9, 2021

Even though customers can be loyal to brands and return to them regularly, the nature of their relations is always short-term. In a SaaS business-like CustomerSuccessBox , anyone who buys a subscription to your product is a customer. Customers pay for the product in order to get immediate value from it. SaaS Customers.

SaaS 52

SaaS Customer retention Upselling Personalization 52

Lumoa

FEBRUARY 9, 2023

more friendly behavior in customer service) Marketing to take the info into account in better targeting (e.g. upselling to the most loyal customers) Process changes (e.g. informing the customer more often about how the repair is proceeding) Only after you have acted on feedback, customer experience processes are developing.

Customer Experience 178

Customer Experience B2C Journey mapping B2B 178

ClientSuccess

MARCH 20, 2019

Over the next month, I will be writing about the customer success metrics that top organizations use to measure the performance of their customer success strategies and team execution. The metrics I will cover are applicable to customer success departments and also to your entire company. Financial Metrics.

Metrics 61

Metrics SaaS Customer advocacy Marketing 61

aircall

JANUARY 30, 2017

Customer retention refers to how successfully a business manages to keep its paying customers. Customer retention means earning customers’ trust and repeated patronage. Why is customer retention so important? Customer retention and growth. Customer retention and churn.

Customer retention 76

Customer retention Education Self service Feedback 76

LiveChat

SEPTEMBER 19, 2018

Companies that take customer service seriously and make it a priority in the early stages of existence, shouldn’t forget about customer success management. It’s often mistaken with customer support, so let’s clarify. Customer success management is the next layer on the top of a successful customer support team.

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SaaS Management CRM Sales 106

CSM Magazine

FEBRUARY 17, 2020

For example, the next time you’re waiting to hear back from a customer service rep, recall the days before the internet, when automated responses were king. Indeed, in the 20th century, customer service calls usually went something like: “Thank you for calling Acme corporation. Your call is important to us.

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Customer Service Telecommunications Chatbots Customer retention 83

Netomi

JANUARY 5, 2022

Customer service leaders come in all shapes and sizes. This is especially true in the customer service industry. Customer Experience (CX) has catapulted into one of the most important aspects of determining business success. Top 51 Customer Service Leaders and CX Influencers (Editor’s Choice): Adam Toporek.

Customer Experience 98

Customer Experience Customer Service Consulting Consulting 98

NobelBiz

MAY 16, 2023

To be exact, 36% of contact centers currently use any form of cloud technology, including software as a service (Saas), hosted, hybrid, and private cloud. A hosted contact center is a software-as-a-service (SaaS) solution that allows you to outsource your call center operations.

Contact Center 52

Contact Center Customer Service Interactive Voice Response contact center solutions 52

Totango

SEPTEMBER 13, 2022

Having a playbook in place can help you deliver better results for your SaaS customers and yield higher satisfaction, retention, and revenue for your business. What Is the Difference between Customer Success and Customer Service? What Are The Benefits Of Having A Customer Success Playbook in SaaS?

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SaaS Upselling Best practices Customer retention 89

Nicereply

MAY 11, 2020

You consider them easy to use, their customer service is great and the computers last a long time. Customers that trust the companies they do business with will be more likely to purchase again in the future. Why is customer loyalty important? A 5% increase in customer retention increases business profits by 25%-95%.

Customer retention 115

Customer retention SaaS Metrics Surveys 115

REVE Chat Blog

JANUARY 15, 2020

Most of the brands firmly believe the fact that good customer service has a profound effect on reducing customer churn, and eventually the bottom line. Measuring customer satisfaction is becoming the core part of every customer-centric companies. Measuring customer satisfaction is vital for all kinds of businesses.

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Metrics Surveys Feedback Customer centricity 75

CustomerSuccessBox

NOVEMBER 17, 2021

A major shift in the distribution model of software meant that SaaS metrics needed to evolve. We will be discussing all Net Revenue Retention in this blog. What is Net Revenue Retention? If you are a SaaS business, churn is your devil with the pitchfork. NRR is the most widely used customer success metric.

Upselling 52

Upselling SaaS Metrics Accountability 52

Nicereply

DECEMBER 20, 2022

What is customer churn? Customer churn, also known as customer attrition , occurs when customers stop doing business with a company. Churn can happen for a variety of reasons, such as: poor customer service, high prices, poor product improvement. What Types of Metrics Measure Customer Satisfaction?

Advertising 52

Advertising SaaS Metrics Surveys 52

SmartKarrot

FEBRUARY 10, 2022

SaaS CFOs (Chief Financial Officer) need to deal with lots of financial planning in an organization. This is where the role of SaaS metrics comes into the picture. The SaaS metrics can be divided into various categories based on the needs and requirements of a CFO, including: . Did you know this?

SaaS 10

SaaS Metrics B2B Surveys 10

SmartKarrot

MAY 28, 2020

In general, SaaS customer retention rates define the percentage of customers your company has retained for a given period. The rate of retention is the reverse or opposite side of the rate of churn, which designates the percentage of clients your company has lost for a specified time. .

Customer retention 10

Customer retention SaaS Upselling Analytics 10

Nicereply

NOVEMBER 23, 2023

Quick Stats and Figures Loyalty and Trust: A study by Bain & Company showed that a 5% increase in customer retention can lead to a 25% to 95% increase in profits. Satisfied customers stay loyal, and trust translates into a solid bottom line. They remind us why we do what we do: to make customers happy.

SaaS 59

SaaS Feedback Brand ambassadors B2B 59

NobelBiz

MAY 16, 2023

To be exact, 36% of contact centers currently use any form of cloud technology, including software as a service (Saas), hosted, hybrid, and private cloud. A hosted contact center is a software-as-a-service (SaaS) solution that allows you to outsource your call center operations.

Contact Center 40

Contact Center Customer Service Interactive Voice Response contact center solutions 40

Kayako

MAY 16, 2018

Especially when it comes to service businesses, both traditional and SaaS, because service solutions often need to be tailored to the individual customer. 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.

Customer retention 59

Customer retention Upselling Sales Feedback 59

CustomerSuccessBox

JULY 19, 2021

We are no longer in the ownership economy, which basically means that you don’t have customers who are purchasing your product but rather you have subscribers who are renting or subscribing to your product or service. The study shows 30% of SaaS Companies reported their churn rates have increased in the past year.

SaaS 52

SaaS Customer retention Surveys Chatbots 52

aircall

SEPTEMBER 11, 2017

Nothing scares away future revenue quite like a reputation for subpar customer service. 66% of B2B customers and 52% of B2C customers have stopped buying from a company following a bad service interaction. 4 in 10 customers will avoid vendors for two or more years following a bad service interaction.

Customer Support 115

Customer Support B2C Upselling B2B 115

CSM Magazine

MAY 26, 2022

With proactive monitoring of customer health scores, CX teams can identify and resolve issues that lead to dissatisfied customers before they hit the crisis point and before they have a chance to consider discontinuing their relationship with your company. Here’s what IrisAgent’s custom health score includes: Support Metrics.

Engineering 52

Engineering SaaS Upselling Metrics 52

Nicereply

JUNE 8, 2022

CLV evaluates the revenue value of a customer in relation to their predicted customer lifespan. Note that a customer lifespan is not the same as a traditional lifespan. For example, a SaaS company does not expect to serve a customer their entire life. Customer Lifetime Value is essential for several reasons: 1.

Advertising 52

Advertising Customer retention SaaS Feedback 52

JustCall

APRIL 5, 2023

When implemented correctly, CSM can: Preserve and increase a company’s revenue Increase customer advocacy Drive profitability as well as growth More importantly, customer success software can seamlessly integrate with your company’s existing CRM/help desk/social media management software to provide an in-depth view of the customer.

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Management CRM Analytics Customer retention 52