Remove 2010 Remove Customer retention Remove Feedback
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Why No One is Collecting Authentic Customer Feedback

The Petrova Experience

Businesses need customer feedback collection to thrive in a competitive market. Everyone thinks they are collecting and acting on customer feedback, yet 80% of US companies failed to increase customer satisfaction since 2010. And customer retention rates are plunging. Customer retention drops.

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100+ Customer Experience Stats to Prepare for 2023

CCNG

(Oracle, 2011) Businesses have a 60 to 70% chance of selling to an existing customer while the probability of selling to a new prospect is only 5% to 20%. Marketing Metrics, 2010) Increasing customer retention rates by 5% increases profits anywhere from 25% to 95%.

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Why most companies miss the biggest financial benefits of customer feedback – by Guy Letts

ijgolding

So with the future health of the business at stake, it’s worth knowing how to keep each customer, and that’s where customer feedback comes in. But there’s a big problem with the way customer feedback and satisfaction surveys have traditionally been done which means they don’t deliver this enormous benefit.

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Customer Feedback is Your Competitive Advantage

AskNicely

And 23% of CEOs list customer service as one of their top three business priorities. Savvy CEOs understand that growth and employee engagement can be created by listening to customer feedback while following one guiding principle: Be customer obsessed. This creates an emotional bond between the customer and your brand.

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The Importance of Social Media Integration in Ecommerce Contact Centers

Hodusoft

Improve Customer Retention Rate According to recently published data , the average customer retention rate in the e-commerce sector is about 38 percent. When compared with other sectors, the customer retention rate of the e-commerce industry is among the lowest.

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Top 20 Customer Service Blogs You Have to Read in 2020

Fonolo

Which customer service blog posts helped to shape the last decade for you? . When we look back at the customer support industry in 2010, we see a very different beast to the one we work in today. Here, we cover the 20 best customer service blogs and influencers to follow in 2020. Nice Reply.

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Everything You Need to Know About Survey Response Rates

GetFeedback

Customer feedback can reveal opportunities for major business growth—what customers want, straight from their own mouths. Customers benefit from sharing feedback too. Consumers want a personalized customer experience , and they’re willing to hand over data to get it. The feedback conundrum.

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