ChurnZero

DECEMBER 17, 2021

Considering that studies have shown that acquiring a new customer is exponentially more expensive than retaining an existing one, expansion management becomes more important than ever. In the SaaS industry, Customer Success upsell and cross-sell opportunities are commonly incorporated into expansion management. Timing is Everything.

Management 98

Management Upselling SaaS Education 98

Real Blue Sky

NOVEMBER 21, 2023

A seminal study by Bain & Company underscores this, revealing that a mere 5% increase in customer retention can result in profit boosts ranging from 25% to a staggering 95%. It’s about being agile enough to adapt strategies based on performance data and market feedback.

Employee engagement 105

Employee engagement outsourcing Upselling Customer retention 105

Netomi

FEBRUARY 21, 2024

Post-departure, they assist in gathering feedback, managing follow-ups, and maintaining engagement, which is vital for customer retention. A notable case study is WestJet’s implementation of Netomi’s chatbot. Chatbots offer guests an immediate channel for expressing their needs and feedback.

Chatbots 40

Chatbots Upselling Feedback Personalization 40

CSM Magazine

DECEMBER 6, 2023

An Oxford study found that employees are 13% more productive when they are inspired to work and are happy. Greater Potential for Upselling Effective customer success training programs can also lead to greater upselling potential. This Spotify upgrade banner shows a great upselling example. This can result in more revenue.

Upselling 52

Upselling SaaS Advertising Marketing 52

CSM Magazine

MARCH 13, 2024

Whether it’s through testimonials, case studies, or social media shoutouts, their authentic endorsements can help build credibility and trust with potential customers. Plus, hearing positive feedback from real people is often more compelling than any marketing message you could create.

Management 52

Management Upselling Marketing Sales 52

JustCall

APRIL 3, 2023

Increased revenue : According to a study by Harvard Business Review , getting a new customer can be anywhere from five to 25 times more expensive than retaining an old one. Customer referrals : A study by Nielsen found that 92% of people trust recommendations from friends and family over any other type of advertising.

Upselling 52

Upselling Metrics Best practices Customer centricity 52

ChurnZero

DECEMBER 17, 2021

Considering that studies have shown that acquiring a new customer is exponentially more expensive than retaining an existing one, expansion management becomes more important than ever. In the SaaS industry, Customer Success upsell and cross-sell opportunities are commonly incorporated into expansion management.

Management 52

Management Upselling SaaS Customer retention 52

Tethr

AUGUST 27, 2020

An NTT study found that 44 percent of enterprises now operate structured VoC programs to drive CX improvement and innovation. Are you curious about how upsells, cross-sells, promotions and campaigns are impacting customer loyalty? Inside every channel, instances of customer effort, frustration, confusion and feedback are prevalent.

Enterprise 118

Enterprise Customer effort Upselling Call Center 118

Kayako

SEPTEMBER 14, 2018

Our study of 500 consumers and businesses proves it. But the biggest takeaway from our study isn’t a particular statistic—it’s that live chat (when done right) has the power to drive sales and boost customer loyalty. Our study turned up one piece of data that I find the most intriguing.

Sales 72

Sales Upselling Feedback Customer retention 72

Callminer

SEPTEMBER 14, 2020

Their long-term role is also to make sure the call center is able to develop expertise, learn through the right feedback loops and test new approaches and features. Studies show that customers are happy to spend more when they receive excellent customer service. This data covers the following main aspects: Ease of use. Rana Gujral.

Call Center 182

Call Center Analytics First call resolution Metrics 182

CustomerSuccessBox

JUNE 20, 2022

To do that, they need to: Track a dozen of complex metrics, Study analytics, Optimize the onboarding workflows, and Monitor the “n” number of other tasks. Detect and Act on Upsell & Cross-sell Opportunities. A Customer Success software monitors product usage and engagement level to identify the upsell signals.

Upselling 52

Upselling SaaS CRM Multi-channel support 52

ShepHyken

JULY 31, 2020

According to a recent study, it was found that as much as 86% of buyers were willing to pay more for better customer experience. Customer experience and customer service are often used interchangeably and are the buzzwords for businesses in the age of instant gratuity. While they are not the same thing, they do happen to be related.

Customer Experience 270

Customer Experience Customer Service Chatbots Upselling 270

ClientSuccess

MARCH 9, 2020

Every customer interaction, whether it’s a conversation with marketing about a case study or a negotiation with a CSM over an expansion opportunity, influences the customer experience. Amazing customer experiences often lead to recommendations and testimonials, which in turn usually mean an account renewal or upsell.

Customer Experience 97

Customer Experience Accountability Upselling SaaS 97

AskNicely

SEPTEMBER 25, 2018

Here’s why: According to The 2018 NPS Benchmark Study, when high-level executive support is present, an organization is twice as likely to successfully build an advanced NPS (Net Promoter Score) program. While that seems non-quantifiable, using NPS to action customer feedback does just that. Increase in sales / upsells and referrals.

Customer advocacy 60

Customer advocacy Benchmark Upselling Feedback 60

Totango

MARCH 10, 2020

Prioritize Escalations and Cherish Feedback. Prioritize Escalations and Cherish Feedback. Direct Voice of Customer information usually arrives in two forms; in response to feedback requests and through escalations. To do that, we can use these 5 customer experience tips: Turn Customer Hopes into Personal Goals.

Customer Experience 93

Customer Experience Upselling Feedback SaaS 93

TeamSupport

MAY 11, 2021

If you’re one of the companies that has yet to formalize your onboarding, consider this: 63% of customers in a recent study say that onboarding is an important consideration in whether they make the buying decision in the first place. This score can be customized by providing weights to specific values. Learn more at TeamSuccess.com.

B2B 98

B2B Upselling Metrics Education 98

ClientSuccess

MARCH 9, 2020

Every customer interaction, whether it’s a conversation with marketing about a case study or a negotiation with a CSM over an expansion opportunity, influences the customer experience. Amazing customer experiences often lead to recommendations and testimonials, which in turn usually mean an account renewal or upsell.

Customer Experience 74

Customer Experience Upselling Accountability SaaS 74

CustomerSuccessBox

FEBRUARY 14, 2019

The major KPIs of a Customer Success Manager are: Increase Lifetime Value (LTV) of the customers (by upsells, cross sells etc). Proactively provide feedback to the product team. Customers are going to provide the most real feedback as they are actually using the product. Create upsell opportunities. Reduce churn.

Management 67

Management Upselling SaaS Sales 67

ProProfs Blog

APRIL 5, 2019

A study by the Boston Consulting Group showed that companies that followed a data-driven approach to decision making could expect an increase of 20-30% in their earnings. This also makes it easier to improve surveys and iron out the kinks to get better insights and feedback in future projects. Analyze and Profile Customer Journey.

Surveys 122

Surveys Upselling Employee engagement Sales 122

Lumoa

NOVEMBER 29, 2021

Companies receive real-time feedback in massive volumes if they only start listening to their customers. Most organizations, that receive large amounts of customer feedback data, can buy text analytics solutions that help in making sense of the data and transform the chaotic customer voice data into structured info. Ask your customers!

Customer Experience 103

Customer Experience Metrics Feedback Banking 103

CustomerSuccessBox

MAY 9, 2022

The pros (new customer ARR, upsells) and cons (no new customer ARR, no upsells) should be highlighted on this Customer Success dashboard (downgrades and churn). Customer feedback is the first and most obvious place to seek information on what your consumers think of your product or service. Voice of Customer.

Metrics 52

Metrics Upselling Customer advocacy CRM 52

ChurnZero

APRIL 27, 2022

As a vendor, value realization affects customer loyalty and retention, customer satisfaction, referrals and recommendations, and opportunities to upsell. They may be open to upsells, cross-sells, or add-ons. Gathering customer feedback. This process and its conclusion are called value realization. 5: Optimization.

Chief Customer Officer 52

Chief Customer Officer Upselling Education Metrics 52

CustomerSuccessBox

JANUARY 8, 2020

Customer success department’s responsibilities are slowly increasing to encompass several things like increasing LTV of customer base, reducing churn, providing references, case studies, customer stories to sales and marketing, providing feedback to product team, creating upsell opportunities, facilitating renewals, etc!

Upselling 52

Upselling SaaS B2B Metrics 52

ChurnZero

OCTOBER 28, 2022

The results of the 2022 Customer Success Leadership Study, based on the perspectives and insights of more than 1,000 Customer Success leaders, are in. Mary Poppen: Then to close loop it, take their feedback and say back to them: “Here’s what we’re doing based on your feedback.”. That’s how you do it.

Best practices 52

Best practices Chief Customer Officer Sales Upselling 52

Totango

JULY 24, 2020

Leverage Voice of Customer Feedback. You cannot schedule an upsell engagement at a predetermined time in the customer journey. Leverage Voice of Customer Feedback. Gathering Voice of the Customer (VoC) feedback is important, and acting on that information is equally important. Review and Enhance Features.

B2B 62

B2B Enterprise Best practices Upselling 62

Inbenta

DECEMBER 14, 2021

They can push promotions in a specific timeframe and recommend or upsell insurance plans by making suitable suggestions at exactly the right moment. Support diversification by recommending, cross-selling, or upselling appropriate products. Engage: Get feedback, receive complaints. Case studies. Case study 1: AG2R.

Chatbots 52

Chatbots Upselling Average Handle Time Analytics 52

JustCall

APRIL 5, 2023

Before we look at the top 7 customer success management tools, ensure that the CSM tool you select can: Identify and create accurate customer profiles Capture customer data, history, and feedback in real-time. This includes collating information from surveys, marketing initiatives, and/or team interactions, etc.

Management 52

Management CRM Analytics Customer retention 52

Totango

MAY 5, 2021

Anticipating which customers are viable candidates for upsell/cross-sell opportunities. Asking promoters to participate in a case study, serve as a reference, or speak at an event. Following-up with detractors to solve their dissatisfaction and establish an action plan based on their business goals and monitored feature usage.

Customer Experience 118

Customer Experience Education Customer centricity Metrics 118

OctopusTech

JULY 21, 2023

Customer relationship management software is generally used by the sales team to know the purchase history of users, monitor and track interactions, and for upselling opportunities. Businesses can gather feedback from a variety of sources, including surveys, social media, and customer support encounters, by managing their customer data.

Best practices 62

Best practices Management Upselling Sales 62

SharpenCX

FEBRUARY 24, 2023

A study by Walker found that 80% of consumers expected personalized customer service from businesses across all sectors – and they’re willing to pay more for it, too. This helps banks identify cross-selling and upselling opportunities in order to provide products that will help customers reach their financial goals. Remember, A.B.T.,

Banking 76

Banking Personalization Customer Experience Chatbots 76

Amity

MARCH 1, 2018

But the great news is that we made a helpful infographic to inform you on things you can do to power up your Customer Health Score and NPS program when you integrate a customer feedback platform with your Customer Success Platform. Gather feedback at key points of the customer journey to give more context and meaning to your NPS score.

Customer advocacy 73

Customer advocacy Surveys Upselling Feedback 73

Education Services Group

NOVEMBER 22, 2021

Health scores can also easily enable CSMs to identify their most successful customers — the ones who are most likely to be open to upsell conversations and the most willing to become customer references, provide testimonials, or participate in case studies. Community is key in customer engagement and feedback. Final Thoughts.

Upselling 52

Upselling Metrics Enterprise Feedback 52

delighted

MARCH 30, 2021

According to one study , companies who improve engagement increase their ability to cross-sell by 22% and upsell by as much as 51%. One of the easiest ways to ask for feedback and measure brand loyalty is through a Net Promoter Score (NPS) survey. Increased profitability. The biggest challenge is figuring out how to do it well.

Feedback 52

Feedback Surveys Upselling Customer centricity 52

Nicereply

JANUARY 14, 2021

Another great option to boost customer loyalty would be the use of packages to upsell more products and products after the buyer’s first purchase. If you fail to respond to your client’s feedback or set things right with dissatisfied buyers, it can ruin your brand as a whole. Start by studying your website buyer journey.

Brand ambassadors 75

Brand ambassadors Customer retention Government Upselling 75

CustomerSuccessBox

MARCH 27, 2019

Thus, increasing the retention rate, and creating potential opportunity for upsells / cross-sells too. According to a study, the Life-Time Value of a Customer (LTV) should be at least 3 times the Cost of Acquisition (CAC). Start your customer success practice early and take feedback from the customers along the way.

Upselling 66

Upselling SaaS Best practices Feedback 66

Etech GS

SEPTEMBER 25, 2019

While there are certainly exceptions, millennials are more well-known for valuing corporate social responsibility, flexible work hours, remote work opportunities and work-study benefits. Software allows employers to use data to provide objective feedback to employees and make effective adjustments. Upsell rates. Customer rating.

Call Center 69

Call Center Management call center workforce Average Handle Time 69

Fonolo

FEBRUARY 14, 2019

In a 2011 Study from the University of Maryland, researchers found that burned-out CSRs were much more likely to retaliate against customers in subversive ways. Someone who is experiencing burnout often responds very emotionally to minor setbacks, feedback, or reproach. Absenteeism and Adherence to Schedule.

Agent burnout 80

Agent burnout Call Center Gamification Contact Center 80