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. This is a guest blog post by Anita Toth, Chief Churn Crusher. .

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Totango

MAY 14, 2021

Customer retention is the keystone in any customer success strategy. There are many different types of customer retention metrics that one can track. Which customer retention metrics have the biggest impact on your business? Customer Retention Rate. Revenue Churn Rate.

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CustomerSuccessBox

MARCH 11, 2022

Read on further about Customer Loyalty vs Customer Retention! You’ve to ensure the customers come to you again and again – so that leaves you with an option to retain the existing customers and that’s customer retention! Customer loyalty vs customer retention!

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Anexa BPO

FEBRUARY 15, 2022

Because let’s face it – what is the point of acquiring new customers if you can’t keep them? We’ll say it again: customer retention. It directly impacts business revenue – in fact, a mere 5% increase in customer retention can increase revenue by 25-95%. Enter: the Customer Experience (CX).

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GetFeedback

OCTOBER 22, 2018

When it comes to measuring the probability for a customer to return to a brand and make new purchases, many businesses rely on the typical customer satisfaction (CSAT) survey question: “How satisfied were you with your experience today?”. Here are two very effective (and often overlooked) ways to predict customer retention.

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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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Totango

FEBRUARY 10, 2021

A customer success strategy is a proactive plan for guiding your clients to outcomes that satisfy their needs. When your customers enjoy more value, your product adoption rates rise and customer retention rates go up. This promotes success for your company as well as your customers.

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CSM Magazine

MARCH 15, 2023

Arunabh Madhur, Regional VP & Head Business EMEA at SHAREit Group examines how mobile apps are reshaping the e-commerce industry. About the Author Arunabh Madhur is Regional VP & Head Business EMEA at SHAREit Group. In fact, the current global e-commerce market is valued at around $5.5 of those sales.

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Skybridge

SEPTEMBER 11, 2020

In her article, “ Winning means losing in the game of customer retention,” O’Grady makes a compelling argument for rethinking customer retention in a year when “protecting the status quo” may not lead to success. Winning means losing in the game of customer retention. We would love to talk!

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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.

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CustomerSuccessBox

MAY 6, 2021

From the last couple of weeks, we’ve been writing about the importance of customer retention , key metrics to track and how Customer Success can help you drive retention, and whether your organization is ready to implement Customer success software. . Steps to implementing Customer Retention Software.

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ChurnZero

MAY 3, 2019

If you want your business to be successful in the long run, it pays to give priority to customer retention. Landing a customer who will pay for life is like hitting the jackpot. After all, it takes five times more effort to land a new customer than to retain an old one. Invest in Customer Service. Upcoming Webinar.

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Education Services Group

SEPTEMBER 23, 2022

Some people prefer focus groups. And so, places like focus groups and interviews are really helpful for that. Want more expert advice on Voice of the Customer ? The post Webinar Q&A Recap: Using Voice of the Customer to Increase Customer Retention appeared first on ESG. So, it could be a survey.

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JustCall

MAY 14, 2020

But the operation that is facing the most critical hit is – Customer Retention. Customer acquisition has become more difficult than ever. And businesses have shifted their focus towards Retention. But are you still sticking to the old-fashioned customer retention strategies?

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Quiq

AUGUST 10, 2020

The article gives an up close look at how this leading home security company implemented automation to elevate it’s customer retention program. . As part of the program, Brinks sends current customers customized offers. Reach More Customers Through Automation. Brinks Secret To Successful Automation.

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JustCall

MAY 14, 2020

But the operation that is facing the most critical hit is – Customer Retention. Customer acquisition has become more difficult than ever. And businesses have shifted their focus towards Retention. But are you still sticking to the old-fashioned customer retention strategies?

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Customer retention Journey mapping Education Feedback 52

ShepHyken

FEBRUARY 12, 2024

My Comment: It has never been easier to personalize an experience for your customers. In the past, personalization was about grouping customers into groups. Typically, a company or brand would have four to six groups. Based on their needs, those groups would receive different messages.

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CrazyCall

DECEMBER 19, 2019

Those working in marketing spend time targeting a very specific group of people. This is all good and well, but where does that leave the sales team if there hasn’t been communication between the two groups? It can deter customers just as quickly as they were drawn in. Giving Constructive Feedback to Another Group of Workers.

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ShepHyken

JANUARY 28, 2024

Keep innovating and properly staff for the customer willing to use self-checkout and needs help. Alexander Group releases Customer Experience Research by Businesswire (MarTech Cube) Alexander Group, the leading revenue growth consultancy to Global 2000 companies, today unveiled the results of its new Customer Experience Research report.

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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.

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ShepHyken

OCTOBER 6, 2022

Well, again, my observations show that pretty much every team tasked with improving the customer experience and driving more sales and customer retention is doing some form of journey mapping. And they should as it’s probably the cheapest and simple way of finding opportunities to improve the customer experience.

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Win the Customer

JANUARY 19, 2016

For instance, in the financial services industry, a five percent increase in customer retention increases profits more than 25 percent, according to Bain & Company. Eighty percent of your future profits will come from 20 percent of your customers, Gartner says. Improve Your Customer Experience.

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VocalCom

MAY 8, 2017

Emotions play a significant role in customer experience, as many statistics clearly show. According to research by the Peppers & Rogers Group, 60% of customers stop engaging with a company when salespeople treat them indifferently, while 70% of customers leave a brand due to poor service.

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ShepHyken

JANUARY 15, 2021

Send out surveys for customers to fill in and offer plenty of opportunities for them to provide feedback – both good and bad. Monitor online review scores and comments, and send in mystery shoppers to get the inside scoop on how the customer journey really works. Keep Track of Customer Retention Figures.

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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.

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CSM Magazine

APRIL 15, 2020

To be able to do this, you will have to know your customer niche. So, running a survey and analyzing both the market and groups of customers you target will provide valuable information. Use analytics to create personalized offers based on the behavior of your potential customers.

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Amity

SEPTEMBER 19, 2018

Information about your customers can be collected quite easily, using even the simplest of CRM software as well as your social media analytics. In this sense, they’re a target group that’s easiest to reach and understand. This can help significantly with building a community around your brand, and a huge loyalty-booster.

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ShepHyken

JANUARY 16, 2017

4 Ways to Increase Customer Loyalty Now and for the Long Haul by Heike Young. Salesforce) Lasting businesses are built on customer retention. So the margin for error for crafting long-term customer relationships is razor-thin. My Comment: Here is a list of five powerful trends impacting customer experience.

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CSR Inc.

JUNE 4, 2017

Let’s face it – a customer knows your brand and is already familiar with your products and services, so – while not effortless – keeping them as a customer has to be easier right? According to studies done by Bain & Company, increasing customer retention by 5% can lead to an increase in profits of 25% to 95%.

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ShepHyken

OCTOBER 29, 2023

A Great Way to Get Your Employees to Connect With Customers by John Dijulius ( The DiJulius Group) Most people believe the customer is the one who benefits when the employee makes a personal connection. Keeping your customers close is all about it, like a favorite coat that you just can’t give up.

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NobelBiz

NOVEMBER 13, 2023

Satisfied customers are more likely to stay loyal and continue their relationship with the brand, leading to a higher customer retention rate and, ultimately, sustained revenue growth. Determine the threshold with which the focus groups must respond to recognize success.

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ShepHyken

MAY 20, 2022

A 5% increase in customer retention increases profits by 25-95%. It’s estimated that new customers cost five times more than loyal customers. Good customer service is a strong pillar of customer loyalty. Why should your customer service team care about NPS? That’s what we commonly call brand loyalty.

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The Northridge Group

JULY 10, 2023

You must track KPIs like first-call resolution rates and customer satisfaction instead of average call handling times to deliver on this promise. Download Part II of Northridge's State of Customer Experience 2023 Research Report for more CX insights! This inevitably leads to better customer retention and improved loyalty.

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Beyond Philosophy

NOVEMBER 10, 2014

Whilst the above example is impressive and coming from HBR, this next example is bound to attract senior leadership’s attention as it links stock prices to customer satisfaction. In addition, higher levels of customer satisfaction are tied to high levels of positive cash flows with low volatility, and positive earnings surprises.

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SmartKarrot

OCTOBER 13, 2023

Retaining those customers for the long haul is equally, if not more, essential. A high customer retention rate is a testament to a company’s customer-centric approach, resulting in increased profits, positive word-of-mouth, and enhanced brand reputation.

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Kapta Customer Success

SEPTEMBER 26, 2022

Best-in-class Voice of Customer (VOC) programs increase customer retention by up to 55% and boost profits, according to Aberdeen Group.

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ShepHyken

NOVEMBER 26, 2018

My Comment: This short article reminds us that no matter how much you are investing – or plan to invest – in technology to deliver a better customer experience, your first investment should be in the morale of your people. Customer Retention Made Easy by Samir Palnitkar.

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