Beyond Philosophy

NOVEMBER 10, 2014

Here are some of the most comprehensive facts and figures that I’ve come across: A recent study of the Value of Customer Experience amongst two $1 billion+ businesses published in Harvard Business Review (HBR) managed to quantify the effects of good customer experience. Your existing customers are far easier to upsell.

Customer Experience 411

Customer Experience Customer retention Upselling Banking 411

Quality Contact Solutions

NOVEMBER 10, 2022

Existing Customer Upsell/Cross-sell Upselling and cross-selling to existing customers are proven ways to increase average order or contract size and should be essential components of all sales strategies. Case Study: Outbound Member Engagement & Retention. Outbound Call Center Pricing.

call center solutions 98

call center solutions Call Center Telemarketing B2C 98

Call Design

JANUARY 21, 2021

Real-time transcription can be used to study and enhance agent engagement, service, and information delivery with innovative artificial intelligence. During these calls, AI can suggest specific products for your agents to upsell to customers. Utilize Real-Time Transcription. Upgrade Old Technology.

Upselling 167

Upselling Coaching Consulting Consulting 167

Contact Center Pipeline

JUNE 30, 2016

Take a look at our top 5 posts for the month—topics included insights on digital channels from a global industry study; the value that speech analytics brings to QM; online communities; the fundamentals of proper staffing; and effective upselling techniques. Study Finds Digital […].

Upselling 100

Upselling Analytics Contact Center Self service 100

CSM Magazine

DECEMBER 13, 2023

As a matter of fact, 49% of customers have left a brand due to poor customer service , as revealed in a study back in 2021. Lack of Cross-Sell and Upsell Capabilities This gap involves using strategies that integrate sales opportunities into customer interactions. Leverage customer data when creating cross-sell upsell recommendations.

Customer Service 52

Customer Service Upselling CRM Employee engagement 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. Timing is Everything.

Management 98

Management Upselling SaaS Education 98

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

CustomerSuccessBox

MARCH 7, 2022

According to a research study, a mere 5% increase in customer retention can lead to a 25% increase in company profits. As your customers become long-term users, it will give you more opportunities to upsell thereby increasing the LTV(lifetime value). Customer retention is the lifeblood of a SaaS company. Expansion Manager.

SaaS 52

SaaS Upselling Customer retention Accountability 52

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

Totango

AUGUST 9, 2022

For example, a marketing team might study the social media activity of all website visitors who purchased a specific product to identify the characteristics of visitors who are most likely to buy. This enables more repeat business, more upsell opportunities, referrals and higher revenue. Fill Out the Right Segmentation Buckets.

Best practices 99

Best practices B2B Journey mapping Upselling 99

Totango

DECEMBER 3, 2020

CS professionals now attest that their bonus structures are tied to company performance, renewals, net retention, upsells, and account health. . Renewals (Cited by 67% of Respondents): Studies have shown time and again that company growth is directly tied to high customer renewal.

Upselling 64

Upselling Accountability Enterprise Metrics 64

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. This organic word-of-mouth marketing is incredibly powerful and can have a significant impact on your brand’s reputation and visibility.

Management 52

Management Upselling Marketing Sales 52

SmartKarrot

MAY 26, 2020

A lot of studies and efforts were taken by the organizations to gain customer retention in the business. Companies started realizing that there are possibilities of expanding their businesses with existing customers too through upselling and cross-selling. It involved nurturing a long-term relationship with the customers.

Upselling 10

Upselling SaaS Customer retention Metrics 10

Global Response

FEBRUARY 26, 2024

Case study : Slack actively encourages user feedback through various channels, including a dedicated feedback command within the app. Case study : Amazon uses customer reviews and ratings to improve products and provide personalized customer service. This led to developments like free Wi-Fi in stores and several new popular products.

Call Center 62

Call Center Customer Service outsourcing CRM 62

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%. Cultivating Customer Loyalty and Reducing Churn In the intricate dance of business growth, customer loyalty plays the lead role.

Employee engagement 105

Employee engagement outsourcing Upselling Customer retention 105

CSM Magazine

FEBRUARY 12, 2020

Take advantage of upselling whenever possible. If there is just one tip that you take out of today’s article, it’s the art of upselling. There are all sorts of ways you can upsell, although one of the common favorites is to group items together to create multibuy offers. Do anything and everything to keep customers in-store.

Upselling 52

Upselling Sales Marketing 52

ClientSuccess

MAY 10, 2022

This includes the initial contract, of course, and any upsells, expansions, and renewals that may occur. Think about any potential product enhancement requests, advisory board placements, case study potential, customer speaking engagements, etc. Second, there is the value a customer account can bring outside of traditional revenue.

Upselling 59

Upselling Metrics Accountability Sales 59

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

JivoChat

MARCH 10, 2021

You can answer their questions, squash their buying fears and, if you play your cards right, even upsell your products. Studies show that real-time chat is good for your bottom line, too. For businesses, real-time chat is especially useful for increasing conversions and upselling products. Upsell and cross-sell.

Upselling 52

Upselling Sales Customer Support Technology 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

Netomi

FEBRUARY 21, 2024

A notable case study is WestJet’s implementation of Netomi’s chatbot. Studies show that 79% of customers prefer real-time chat for its immediacy over waiting for a customer support team to respond. The airline achieved an impressive 87% resolution rate of customer issues with no human intervention.

Chatbots 40

Chatbots Upselling Feedback Personalization 40

Inbenta

JULY 29, 2021

Upgrades or upselling management. Chatbots can be used as a sales upselling tool to suggest additional services, upgrades and offer upsell promotions to travelers who have already booked a flight. If you want to know more about their chatbot, make sure to check their case study. Create your own airline chatbot.

Airlines 88

Airlines Chatbots Upselling Self service 88

Totango

MARCH 5, 2021

Retaining customers is far less expensive than the cost of acquiring new ones and can bring growth in the form of upsells from current customers. Start by demonstrating the value of your product early in the customer journey by offering case studies and testimonials. A Positive Customer Retention Rate Leads to Renewals and Upsells.

Customer retention 85

Customer retention Upselling Enterprise Benchmark 85

ThriveableBiz

NOVEMBER 13, 2023

And BTW that includes strictly avoiding the temptation to upsell a customer based on a question response. Participants will actually be more honest if they know the purpose of the study, and which brand they’re going to help with their answers. People are well aware that databases are often on-sold, exposing to them to spam.

Marketing 52

Marketing Upselling Metrics Surveys 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? AI gives your voice of the customer programs the edge they need to make measurable change.

Enterprise 117

Enterprise Customer effort Upselling Call Center 117

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

CSM Practice

JULY 6, 2020

On the other hand, the median cost of acquiring the ACV dollar for plan expansions and upsells is only about $0.20 There are three types of expansion selling plays you can make for your installed customer base: 1. Upsell. Upsells is a basic form of account expansion. and $0.27, respectively. 3. Bundles.

SaaS 71

SaaS Upselling Accountability Sales 71

CSM Practice

JULY 6, 2020

On the other hand, the median cost of acquiring the ACV dollar for plan expansions and upsells is only about $0.20 There are three types of expansion selling plays you can make for your installed customer base: 1. Upsell. Upsells is a basic form of account expansion. and $0.27, respectively. 3. Bundles.

SaaS 71

SaaS Upselling Accountability Sales 71

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). Provide references, case studies, customer stories to Sales and Marketing. Case studies and testimonials help build trust among potential clients. Create upsell opportunities. Reduce churn.

Management 67

Management Upselling SaaS Sales 67

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

Vcaretec

JUNE 6, 2022

Countless studies have shown that ensuring your customers have a great buying experience leads directly to larger purchases and repeat sales. Deep product knowledge also boosts top-line revenue through appropriate cross-sell and upsell offers during the customer care interaction. In fact, it’s your last chance.

Customer Care 97

Customer Care Technical Support Upselling Analytics 97

CustomerSuccessBox

MAY 30, 2022

She instantly thinks about Mr. X, who has been the focus of numerous previous case studies and whose product usage has been positive. These rules have a threshold for upsell or risk signal generation. Her CEO has asked her to nominate a customer who could talk about the value they have realized from the firm’s solution. Powered by its.

Upselling 52

Upselling Calibration Engineering Big data 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. This process and its conclusion are called value realization. Learn how to measure value realization. 5: Optimization.

Chief Customer Officer 52

Chief Customer Officer Upselling Education Metrics 52

Totango

APRIL 9, 2019

Retaining customers is far less expensive than the cost of acquiring new ones and can bring growth in the form of upsells from current customers. Start by demonstrating the value of your product early in the customer journey by offering case studies and testimonials. A Positive Customer Retention Rate Leads to Renewals and Upsells.

Customer retention 72

Customer retention Upselling Enterprise Metrics 72

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. Increase in sales / upsells and referrals. Get The NPS Benchmark Study. Lower customer churn and higher revenue growth.

Customer advocacy 60

Customer advocacy Benchmark Upselling Feedback 60

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. Scope for cross-selling and up-selling opportunities Businesses might find cross-selling and upselling opportunities thanks to CDM.

Best practices 62

Best practices Management Upselling Sales 62

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