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%. Spotify, originally founded in 2006 in Sweden, continues to see success. Spotify Finds Success.
Beyond Philosophy
NOVEMBER 9, 2023
I have long been an advocate of focusing on customer retention over acquisition. However, my pessimistic side is still surprised that few organizations focus on customer retention. It cripples their customer-driven growth. For example, all the new incentives are for new customers.
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Beyond Philosophy
NOVEMBER 10, 2014
In addition, higher levels of customer satisfaction are tied to high levels of positive cash flows with low volatility, and positive earnings surprises. Keeping Customers results in a high increase in value. Focusing on customer retention with a better Customer Experience will benefit your bottom-line expenses.
Amity
MAY 5, 2016
Customer Churn. Customer Health Score. Customer Lifecycle. Customer Retention. Customer Success. Customer Success Manager. — Adrian McEwen (@amcewen) November 22, 2006. — Tom Coates (@tomcoates) December 6, 2006. Customer Retention. Client Success. Cross-Sell.
Beyond Philosophy
JULY 12, 2016
Here’s a summary which encapsulates the difference between satisfaction and loyalty as metrics, expressed by Susan Wyse of Snap Surveys in a June, 2012 post: “Customer Satisfaction is a measurement of customer attitudes regarding products, services, and brands. Customer Loyalty on the other hand has two definitions.
CSM Magazine
MARCH 13, 2020
A win-back bot, used in combination with other chatbots such as a quote bot, and loyalty bot, can help to retain customers who are nearing the end of their contract and are at risk of switching to a competitor and can even help to entice back customers who’ve already left. About the Author.
Beyond Philosophy
JUNE 4, 2015
Just on the basis of comparison to the S & P 500, the public companies singled out by Firms of Endearment returned 1,026 percent for investors over the 10 years ending June 30, 2006, compared to 122 percent for the S & P 500, more than an 8 to 1 ratio. Bottom line: Being human is good for the balance sheet as well as stakeholders.
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