Lumoa

JANUARY 2, 2022

In contrast, the success rate of selling to existing customers is anywhere between 60% and 70%. So, focusing on customer retention is the better option. When you put the customer first like this, people talk. And nothing brings this point home more than what happened in 2008.

Feedback 78

Feedback Surveys Customer centricity Customer retention 78

TeamSupport

OCTOBER 8, 2020

Once they understand this and adopt B2B-focused solutions like TeamSupport, they will be positioned to provide world-class customer support, which has an incredible impact on not only their reputation, but to the bottom line through customer retention and reduced churn.

B2C 59

B2C B2B Enterprise CRM 59

ijgolding

MAY 11, 2016

I am writing this blog having just watched a Hollywood movie about the 2008 banking crisis – The Big Short, featuring Christian Bale, Steve Carell, Ryan Gosling and Brad Pitt is a tough watch – not because of the quality of the acting, but because of the almost completely unbelievable plot. It was very real.

Customer Experience 65

Customer Experience Banking Benchmark Enterprise 65

Lumoa

JUNE 14, 2023

Everyone from customers to investors and stakeholders will be wary of associating with a company that can’t seem to get its customer experience right. According to Harvard Business Review, acquiring a customer costs anywhere from 5 to 25 times more than retaining an existing one. But the damage doesn’t stop there.

Customer centricity 78

Customer centricity Airlines Metrics Feedback 78

ijgolding

OCTOBER 21, 2014

Integrity is a word that few would associate with many industries in 2014 – it has been eroded so significantly since 2008. If you want to read the report in detail, or find out more about it, please have a look at Nunwood’s Customer Experience Excellence Centre.

Customer Experience 91

Customer Experience Customer centricity Customer retention Customer effort 91

ChurnZero

JUNE 19, 2020

During the webinar, we discussed: How customer retention impacts the valuation of your company. How Customer Success can effectively drive retention. What data you need to get the investment in your Customer Success team. The big test is how companies will retain customers during the downturn.

SaaS 72

SaaS Metrics Surveys Customer retention 72

PeopleMetrics

OCTOBER 22, 2015

If you're after more answers, you can also check out our Voice of the Customer FAQ page, which answers common questions about customer experience improvement: * * *. Paris Novembre 2008. Image Credits: Yellow Bow-Broken Heart… The Break Up. Linda Tanner. , Peter.Lorre. , CC BY-SA 2.0.

Benchmark 106

Benchmark Metrics Customer effort Customer emotions 106

ProProfs Blog

MAY 15, 2020

Here’s a brilliant example of using surveys for customer retention by one of the biggest brands of the world – Starbucks. Way back in 2008, the global coffee chain launched a new initiative called “The Starbucks Idea”, as an engagement and retention mechanism for its customers.

Surveys 97

Surveys Customer Experience Feedback Best practices 97

CX Journey

FEBRUARY 27, 2019

"Neither RedBox nor Netflix are even on the radar screen in terms of competition,” said Blockbuster CEO Jim Keyes, speaking to the Motley Fool in 2008. Also, how do your customer retention numbers look? It’s more Wal-Mart and Apple." NPS might not be telling the whole story. What do the business metrics tell you?

Metrics 35

Metrics Benchmark Surveys Customer retention 35

CX Journey

FEBRUARY 27, 2019

"Neither RedBox nor Netflix are even on the radar screen in terms of competition,” said Blockbuster CEO Jim Keyes, speaking to the Motley Fool in 2008. Also, how do your customer retention numbers look? It’s more Wal-Mart and Apple." NPS might not be telling the whole story. What do the business metrics tell you?

Metrics 32

Metrics Benchmark Surveys Customer retention 32

Nicereply

JUNE 20, 2019

Customers can easily jump ship to another brand without second-guessing if they have a poor experience with their current brand. Research has shown that a 5% rise in customer retention can boost a brand’s income by 75% and such retention is the outcome of quality customer experience. times that of laggards.

Marketing 77

Marketing Chatbots B2C Self service 77

Education Services Group

MAY 6, 2022

The year is 2008 and I just turned 18 a few months back; I’m still living at home with both my parents and my two brothers—I’m the middle child (if you hadn’t guessed that already). The Reason. It’s only been about six months since I graduated high school, so I still have at least six months left in what I’m calling my ‘buffer-year.’

Personalization 98

Personalization Best practices Customer retention 98

Contact Center Geek

AUGUST 7, 2014

We all need compelling reasons to keep our customers coming back. Customer retention is vital and getting customer feedback can give great insight into the future success of our business, but we need to allow customers to leave us. As a call center leader, I was astonished. I was flabbergasted.

Government 48

Government Average Handle Time Call Center Metrics 48

CSM Practice

JULY 6, 2020

It is no surprise that discretionary spending practices lead customers to reconsider whether or not they need to renew or expand certain subscriptions. Since most SaaS companies started after the 2008 financial crisis, this is the first test of the sustainability of the model during the crisis.

SaaS 71

SaaS Upselling Accountability Sales 71

CSM Practice

JULY 6, 2020

It is no surprise that discretionary spending practices lead customers to reconsider whether or not they need to renew or expand certain subscriptions. Since most SaaS companies started after the 2008 financial crisis, this is the first test of the sustainability of the model during the crisis.

SaaS 71

SaaS Upselling Accountability Sales 71

ijgolding

MARCH 7, 2016

In 2008, Woolworths left a huge hole in high streets all over Britain – it had completely failed to remain relevant to the consumer and ceased to be a viable business. Started by American entrepreneurs, the aim was to match the success of another retail stalwart – Woolworths.

Morale 64

Morale Customer Experience Customer centricity Marketing 64

Amity

OCTOBER 31, 2016

I’m the VP, Customer Success here at Uberflip. The first being product adoption, the second being customer retention, and the third being customer expansion. It might help to start with a bit of a history, give that, relative to other teams here at Uberflip, Customer Success is still very new.

Coaching 0

Coaching Upselling Engineering Marketing 0

TMP Direct

APRIL 29, 2015

Loss of customer loyalty: “Contact centers leave 18% of customers with unresolved issues. More than half of customers with unresolved issues (56%) are at risk of defection, or have already decided to leave.” customers with unresolved issues indicate the same. to 3 times their cost in revenue increases.”

Customer Service 40

Customer Service Advertising Contact Center Customer retention 40

Netomi

JANUARY 5, 2022

Referred to as “the most famous customer service manager in the US, possibly the world” by BusinessWeek , Eliason is best known for developing the use of social media in the practice of customer relations. . LinkedIn: Shep Hyken – CAO (Chief Amazement Officer), Customer Service Speaker, Customer Serv. &

Customer Experience 98

Customer Experience Customer Service Consulting Consulting 98