SharpenCX

NOVEMBER 17, 2021

Long-term customers are more valuable to your company’s growth than you may think. A study from Harvard Business School found that increasing customer retention rates by even 5% can boost your company’s profits by 25-95%. Your customers do your marketing for you, spreading good words about your product and service.

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Customer retention Personalization Accountability Customer Experience 145

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. Email marketing.

Customer retention 63

Customer retention Advertising Engineering Upselling 63

ShepHyken

JANUARY 15, 2021

Many important customer experience metrics can be measured in a quantitative way, and this will give a company a great overview of how its customer experience strategies are developing. Measure Customer Satisfaction Using Quantitative Metrics. Keep Track of Customer Retention Figures.

Customer Experience 335

Customer Experience Metrics Customer retention Analytics 335

GetFeedback

JANUARY 28, 2020

Although customer retention is cheaper than acquisition, it’s easier said than done. It takes a lot of commitment and dedication to get customers to stay loyal to your business. In this article, we are going to talk about how to use social media to attract and retain customers. What is customer retention?

Customer retention 128

Customer retention Education Brand ambassadors Marketing 128

Totango

OCTOBER 8, 2020

Customer retention is the continuation of a valued service. In B2B terms, it is still possible to maintain your customer relationship and even improve customer retention during uncertainty, but you will need to focus on five key steps: Understand Your Customer. Listen to Your Voice of Customer Programs.

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Customer retention B2B Enterprise Best practices 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

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

Customer retention Contact Center outsourcing Feedback 62

Help Scout

MAY 12, 2021

In this article, we discuss the role of support teams in retaining customers and show how to combine high-quality, empathetic customer service with a deliberate focus on business growth. What is customer retention and how is it measured? 15 practical ways customer service teams can improve retention.

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Customer retention Finance Analytics Customer effort 115

Quiq

MARCH 31, 2022

Share This Story So much time and effort is spent on customer acquisition. Marketing and sales consistently combine their efforts to attain the most customers at the lowest price. But few businesses dedicate as many resources to customer retention. What is customer retention? And that’s a big mistake.

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Customer retention Metrics Personalization Benchmark 77

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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Customer retention Advertising Personalization Chatbots 64

CSM Magazine

AUGUST 15, 2023

Customer acquisition and customer retention are two vital aspects of business growth, each playing a unique role in ensuring the long-term success of a company. Moreover, we will delve into the power of referral marketing and how to launch a referral program effectively as a key strategy in this equation.

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Customer retention Metrics Advertising Marketing 52

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.

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Customer retention Sales Marketing Big data 89

CSM Magazine

JANUARY 25, 2022

If you’re a customer service professional, you know that customers are your lifeblood and livelihood. You likely also know about the traditional methods of gaining and retaining customers. Smart tactics in marketing, advertising, and social networking are all effective ways to attract and keep customers.

Customer retention 52

Customer retention Advertising Customer Service Management 52

Totango

FEBRUARY 9, 2022

The contract renewal stage of the customer lifecycle is a critical component of driving retention for SaaS products. Knowing how to use technology to optimize your contract renewal process can increase your retention rates and your revenue. The customer’s decision to renew can be based on several factors.

Customer retention 94

Customer retention SaaS Best practices Upselling 94

ClientSuccess

NOVEMBER 2, 2022

SaaS organizations are focusing more on maintaining and cultivating long-term customer relationships than ever before, and CSMs are at the forefront of these efforts. Here are some tips that can help your customer success team boost customer retention and reduce churn: 1. The post Ready to Boost Customer Retention?

Customer retention 70

Customer retention Upselling SaaS Accountability 70

Beyond Philosophy

NOVEMBER 11, 2014

This statement from the psychologists Townsend and Bever captures one of the great truisms of human behaviour – and one of the great challenges for marketers. Yet benefiting from a habit is one thing; knowing how to create or change it is something else entirely. Habits and Marketing. Target Knows When to Target Marketing.

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Marketing Customer emotions Employee engagement Customer centricity 418

Totango

OCTOBER 2, 2020

Equipped with the knowledge provided by customer data, you can help your customer survive tough times by offering practical solutions that add value and ultimately contribute to customer retention during economic downturns — even ones caused by a pandemic. Customer Retention Is Your Future.

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Customer retention Enterprise Best practices Metrics 118

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. It also sends emails to teach people how to maximize all the doorbell’s nifty features.

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Customer retention Customer advocacy Wait times Brand ambassadors 62

CrazyCall

DECEMBER 19, 2019

When you boil down any business with great reviews, it’ll naturally reduce and separate into three simple categories: marketing, sales, and customer service. These three divisions are the cornerstone of any company with happy customers. In this article, we’ll fill you in on how it can take your performance to a whole new level.

Customer retention 66

Customer retention Sales Marketing Customer Service 66

Joe Rawlinson

JANUARY 22, 2024

Here are some top tips for enhancing brand awareness and improving customer retention in your local area. Collaborate with Local Influencers Find local influencers and content creators to partner up with on your advertising and marketing campaigns. However, it’s something that every brand can benefit from and should think about.

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Advertising Customer retention Marketing Personalization 78

ProProfs Blog

FEBRUARY 22, 2019

A Forrester report highlights increasing customer retention by 5% can increase profits by up to 95%. Loyal customers spend about 30% more with brands than new customers. An investment to increase retention by 5% is surely a worthy business investment. Simple formula: Customer Retention = Engagement + Investment.

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Customer retention Airlines B2B CRM 123

ShepHyken

SEPTEMBER 4, 2023

You can’t download a report about digital or technology trends without being assailed with stats and surveys outlining how great CX is key to keeping and gaining customers. Finally, he presents the concept of “customer Service as an Experience.” 7 Small-Business Strategies for Customer Retention by Kalin Kassabov (Inc.

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Customer Service Customer retention SaaS Best practices 168

SharpenCX

JUNE 8, 2021

If your team can’t retain customers and establish long-term relationships that last, your entire company suffers the losses. According to research out of Bain & Company , increasing your customer retention rate by just 5% can increase profits anywhere from 25 to 95%. Customer acquisition on the other hand is costly.

Customer retention 76

Customer retention Coaching Employee engagement Contact Center 76

OctopusTech

APRIL 18, 2024

Learning how to improve customer engagement in a call center is significant in this competitive market. Talking to customers is not enough; it is about making those conversations beneficial and considering every customer’s requirements and expectations. Smiling customer support operator at work.

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Call Center Contact Center Telemarketing outsourcing 62

Anexa BPO

FEBRUARY 15, 2022

So all of your skilled – and expensive – marketing initiatives focussed on seeking out new prospects are simply a waste of valuable resources. 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. Reach out today and see for yourself – Anexa.

Customer retention 59

Customer retention outsourcing Customer Experience Marketing 59

Amity

SEPTEMBER 19, 2018

On top of all that, the whole process of attracting new customers is 6-7 times more expensive than keeping the old ones. These numbers clearly suggest that you should always have repeat customers in mind when designing your digital marketing strategy. Customer advocacy and user-generated content. Marketing is not enough.

Customer retention 64

Customer retention Marketing B2B Advertising 64

ProProfs Blog

JANUARY 7, 2022

To steer yourself towards success, it is essential to measure its product-market fit. Meaning: Whether there is a market demand for your product or not. Products whose value proposition satisfies the needs of a market and its potential customers are likely to experience success. But how do you measure product-market fit

Marketing 78

Marketing Surveys Customer retention Metrics 78

Totango

JULY 11, 2019

Instead of becoming a loyal customer who spends money and gives good word-of-mouth advertising, the one-time customer is there one moment and gone the next. In their wake, they leave an absence that your marketing and sales teams must spend time and money to fill. New customer acquisition costs a lot.

Customer retention 63

Customer retention Advertising Upselling Feedback 63

Totango

JULY 11, 2019

Instead of becoming a loyal customer who spends money and gives good word-of-mouth advertising, the one-time customer is there one moment and gone the next. In their wake, they leave an absence that your marketing and sales teams must spend time and money to fill. New customer acquisition costs a lot.

Customer retention 61

Customer retention Advertising Upselling Feedback 61

JivoChat

MARCH 28, 2023

Have you ever heard of Whatsapp marketing? It can be used to offer assistance when your customers have any doubts and to send offers and coupon discounts according to their interests. What Is WhatsApp Marketing? WhatsApp marketing can be defined as the marketing strategies created to promote a brand using WhatsApp.

Marketing 75

Marketing Accountability Sales Personalization 75

CSM Magazine

NOVEMBER 28, 2022

Here are five steps to ensure your customer service software will be a guaranteed hit. Perform a thorough market analysis to get a better understanding of the customer service landscape, current trends, and the competition you’ll be up against. Is the product you’re offering something the market needs?

Marketing 52

Marketing Customer Service Metrics Feedback 52

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. Fancy isn’t it!

Customer retention 52

Customer retention SaaS B2B Upselling 52

JivoChat

JULY 20, 2021

It’s a problem for many businesses, especially in competitive markets. 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.

Customer retention 52

Customer retention Gamification Education Self service 52

Beyond Philosophy

JANUARY 23, 2015

As a leader or a marketer if you want an employee or a customer to change behavior, research says the best thing to do is give them positive reinforcement when they do what you want. If you enjoyed this post, you might be interested in the following blogs: Four Ways to Get Customers to Do What You Want.

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Customer emotions Customer centricity Customer retention Consulting 315

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. Despite many documented market and economic challenges, many brands continue to invest heavily in e-commerce marketing. In fact, the current global e-commerce market is valued at around $5.5

Customer retention 52

Customer retention Finance Marketing Sales 52

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!

Customer retention 52

Customer retention Calibration Customer Care Marketing 52

ProProfs Blog

NOVEMBER 9, 2021

Because without satisfying the customer’s needs, you cannot offer them a delightful experience, which inevitably results in customer churn and poor revenue generation. Hence, if you aren’t strategically thinking about customer satisfaction, you’re probably following a risky approach. What is Customer Satisfaction?

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Surveys Feedback Metrics Customer retention 146