ShepHyken

SEPTEMBER 4, 2023

You can’t download a report about digital or technology trends without being assailed with stats and surveys outlining how great CX is key to keeping and gaining customers. Finally, he presents the concept of “customer Service as an Experience.” 7 Small-Business Strategies for Customer Retention by Kalin Kassabov (Inc.

Customer Service 180

Customer Service Customer retention SaaS Best practices 180

ShepHyken

AUGUST 6, 2023

Customer Retention Statistics – the Ultimate Collection for Small Business by Matt Mansfield (Small Business Trends) Customer is strategic efforts a business makes to keep existing customers engaged and loyal over time. Using AI the right way will enhance the relationship versus frustrate the customer.

Customer Service 156

Customer Service B2C Customer retention Government 156

ShepHyken

AUGUST 14, 2023

When you create content that answers your customers’ questions, you’re also (potentially) creating an SEO-optimized piece of content that could bring you new customers. It is essential to the success of a business because it demonstrates the organization’s ability to cultivate strong customer relationships and customer loyalty.

Customer Service 31

Customer Service Customer retention Engineering Chatbots 31

ShepHyken

DECEMBER 10, 2023

10 Questions Every Business Leader Should Ask About Customer Retention by Samuel Wilson (Forbes) Many of you can probably recall an experience of sitting in a big conference room with the quarterly review slides and questioning why growth isn’t higher. Here are my top five picks from last week.

Customer Service 172

Customer Service Customer retention Advertising Contact Center 172

CCNG

OCTOBER 19, 2022

(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%.

Customer Experience 195

Customer Experience Journey mapping Metrics Surveys 195

Comm100

FEBRUARY 6, 2023

This is why it’s so important for financial institutions to know the trends and expectations their existing and potential customers have regarding the customer experience. In this article, we’ll share five customer experience trends that financial institutions should keep up with in 2023.

Customer Experience 98

Customer Experience Brand ambassadors Self service Chatbots 98

The Petrova Experience

DECEMBER 20, 2022

As we close out 2022, we look at three strategic approaches to customer experience from top brands that took CX to the next level. These brands who fearlessly pursue customer experience inspire us to think differently about how to transform customer experience in 2023. That’s a lesson we should all take into 2023.

Customer Experience 98

Customer Experience Banking Wireless Customer centricity 98

ChurnZero

JUNE 23, 2023

In turn, the swing has rightfully put an increased focus on customer retention. That conjures the question: how do you know if your customer retention rate is good or not? Fortunately, SaaS Capital , which provides debt financing to growth companies, recently published its annual B2B SaaS retention study.

Benchmark 52

Benchmark Customer retention SaaS B2B 52

Upstream Works

JANUARY 20, 2023

These may seem like unrelated events, but they all have a role to play in defining the state of customer service in 2023 and will have implications for contact centers. There are two main lenses through which these factors must be filtered: customer experience (CX) and agent experience (AX).

Contact Center 78

Contact Center Upselling Customer retention Technology 78

Lumoa

NOVEMBER 17, 2022

Companies should aim to meet their customers’ expectations by continuing to fine-tune their customer experience (CX) programs. Here are the CX trends you can expect to see in 2023 and how to keep your e-commerce business on track with the evolution of CX. Customer Experience in E-commerce Trend Predictions for 2023.

Customer Experience 78

Customer Experience Chatbots Feedback Customer Support 78

CCNG

JANUARY 11, 2023

I’ve seen companies pull back on spending in areas they believed to be “not as critical” (like customer support or the contact center) to the organization’s success, only to have it come back to haunt them. These same companies found themselves having slow growth and customer service and customer retention issues.

Customer Service 195

Customer Service CCNG Education Self service 195

ShepHyken

FEBRUARY 26, 2023

Customer Retention Strategies for Driving Loyalty in Uncertain Times by Rich Hein (CMSWire) One thing all businesses can bank on in the future is that things will be more uncertain and unpredictable than ever before. Here you will be reminded of eight common-sense ideas to help you and your team deliver a better service experience.

Customer Service 120

Customer Service Call Center Customer retention Banking 120

ShepHyken

JANUARY 28, 2024

These companies “achieve 37% more effective new logo acquisition, 23% more effective account penetration, 22% more effective customer retention, and 13% higher earnings before interest, taxes, depreciation, and amortization (EBITDA) margins.” Consider these results from companies in the top quartile of the CX index. CX doesn’t cost.

Customer Service 186

Customer Service Consulting Consulting Customer Experience 186

ShepHyken

JANUARY 7, 2024

Deloitte Shares Loyalty Trends and Best Practices for 2024 by Alicia Esposito (Retail TouchPoints) To drive customer retention and loyalty, most brands and retailers continue to rely on purchase discounts (77%) and loyalty program points (61%), according to Retail TouchPoints research.

Customer Service 186

Customer Service Contact Center Customer centricity Banking 186

Global Response

AUGUST 7, 2023

There’s no business out there who doesn’t want to improve their customer retention and CLV. The secret weapon to improving customer retention and CLV? First, customer retention rates are always measured based on a specific timeframe, typically monthly, quarterly or annually. Your call center.

Customer retention 62

Customer retention Call Center Upselling Personalization 62

Global Response

JANUARY 23, 2023

In this article, we’ll cover both the what and the how—what customer service goals you should be focusing on in 2023 as well as how you can achieve them. Improve our customer service” “ Improve our customer satisfaction score by 20% in 2023.” Increase our inbound sales leads in 2023.”

Customer Service 62

Customer Service outsourcing Self service Inbound sales 62

ShepHyken

FEBRUARY 25, 2024

How Customer Experience Drives Business Growth by Impact Networking (Impact Networking) By prioritizing the customer experience, businesses can increase customer retention and loyalty, generate organic brand advocacy, expand their market share, and ultimately drive the bottom line.

Customer Service 172

Customer Service Customer advocacy Average Handle Time Customer centricity 172

Kapta Customer Success

AUGUST 14, 2023

Greg Daines of ChurnRX gave a fascinating presentation at KAMCon 2023 titled, " Building Account Strategy On The 3 Laws of Retention." He shared some of his churn research results and revealed how we can overcome the obstacles to customer retention so we can minimize customer churn.

Accountability 52

Accountability Customer retention Management 52

ShepHyken

MAY 4, 2023

This means that it is critical for customer service professionals to have the best tools and processes in place to handle these inquiries efficiently and effectively. Customer service productivity is vital to meeting customers’ needs in 2023 and beyond.

Customer Service 156

Customer Service Metrics Self service Customer retention 156

ChurnZero

JUNE 14, 2023

How should I wrangle a constricted company budget to outlast 2023? For subscription businesses, the focus is clear: retaining customers. Older research from Fred Reichheld of Bain & Company showed that, in financial services, “a 5% increase in customer retention produces more than a 25% increase in profit.”

Finance 52

Finance Surveys Sales SaaS 52

CSM Magazine

DECEMBER 15, 2022

If you can enable, empower, and engage your agents, you provide better interactions, which leads to higher customer retention. Now is a good time to pause and reflect on support center activity and trends by refining what we have learned and building on experiences to make agents, processes, and operations the best they can be in 2023.

Contact Center 52

Contact Center Customer emotions Morale Quality management 52

Education Services Group

DECEMBER 13, 2022

On the bright side, Customer Success Operations is expanding, with 59.5% With all this in mind, I thought about what 2023 will bring, and I asked my colleagues for their thoughts as well. Our top 5 predictions for Customer Success in 2023. 2023 is when we will see that movement become more apparent.

Self service 52

Self service Technology Customer Experience Best practices 52

AWS Machine Learning

MAY 7, 2024

On November 5th, 2023, customer Alice from US placed an order with total of $2190. On November 5th, 2023, customer ** from ** placed an order with total of $2190. report_sample = """ This month at AnyCompany, we have seen a significant surge in orders from a diverse clientele. max_tokens=512, top_p=0.9,

Engineering 124

Engineering Chatbots Technical Support Best practices 124

Nicereply

MAY 1, 2023

In this blog, we will discuss nine ways for building customer loyalty, retain customers and create brand champions in the year 2023. These steps will help businesses create customer-centric cultures , strengthen relationships with customers, and retain more clients.

Customer retention 59

Customer retention Feedback Customer centricity Chatbots 59

The Northridge Group

JULY 10, 2023

You must track KPIs like first-call resolution rates and customer satisfaction instead of average call handling times to deliver on this promise. Download Part II of Northridge's State of Customer Experience 2023 Research Report for more CX insights! This inevitably leads to better customer retention and improved loyalty.

Call Center 125

Call Center First call resolution Advertising Scripts 125

ShepHyken

DECEMBER 26, 2022

Over 65% of customers say that their experience on a website or app is a major factor in their willingness to recommend a brand. Several poor choices are detrimental to the CX (customer experience), so here’s what companies need to stop doing on digital platforms in 2023.

Customer Service 168

Customer Service Self service Customer Experience Personalization 168

Education Services Group

JANUARY 4, 2023

It’s no secret that 2022 was a little bumpy for business, yet we saw many Customer Success leaders meeting industry challenges head-on. While it’s hard to predict what will happen in 2023, we all still try to plan ahead as much as possible. We put together five top-notch New Year’s resolutions for Customer Success in 2023.

Finance 52

Finance Metrics Government Customer centricity 52

Nicereply

FEBRUARY 1, 2023

Omnichannel customers are proven to be more profitable Provides omnichannel support across all customer touchpoints, from voice to email, chat, and social media support and reduces customer effort, and maximizes Revenue. Nearly 80% of customers prefer omnichannel strategies due to the seamless communication experience.

Customer Experience 59

Customer Experience Advertising Chatbots B2B 59

CSM Magazine

MARCH 15, 2023

Whilst global trends continue to point to the user growth of Facebook, TikTok and Instagram, the trends underneath the headlines highlight significant opportunities to drive new customer acquisition, which in turn demands a targeted customer retention strategy from companies.

Customer retention 52

Customer retention Finance Marketing Sales 52

Netomi

AUGUST 31, 2022

Customer Retention. You should track the retention rate of your customers who reached out with an issue. Did you manage their issue well enough for it to not rupture your relationship with the customer? are feeding data in and out of your CRM for a 360-degree customer view. Employee Turnover Rate (ETR).

Metrics 75

Metrics Customer Service Virtual Agent Average Handle Time 75

JustCall

MARCH 28, 2023

By embracing the latest customer service trends, businesses can effectively adapt their processes and leverage cutting-edge tools and technologies to streamline their customer service operations. Excellent customer service can boost sales by promoting customer retention.

Customer Service 52

Customer Service Chatbots Analytics Advertising 52

ChurnZero

MARCH 14, 2025

These adages have been around for years now, so it really should come as no surprise that as customer success teams have shifted away from customer satisfaction and towards driving growth, more and more CS teams are rolling up to the CRO (chief revenue officer). 5: How do you capture the value that customer success brings to sales?

Upselling 52

Upselling Sales Customer retention Consulting 52

Nicereply

JUNE 19, 2023

They concentrate on their frequent customers since they know that people who watch at least 15 hours of video per week are 75% less likely to cancel their subscriptions than others. By doing this, Netflix provides each user a unique customer experience that can enhance customer retention and loyalty.

Customer Experience 59

Customer Experience Chatbots Entertainment Customer retention 59

Fonolo

JUNE 7, 2022

But contact center performance is directly linked to customer satisfaction — and you can’t sustain that without customer service goals. Customer Loyalty and Retention. Customer service goals include expanding your reach. However, they should also focus on customer retention.

Customer Service 81

Customer Service Abandon rate Call Center Interactive Voice Response 81

Totango

SEPTEMBER 22, 2023

Retention increases when customers get results, leading to increased purchasing and ultimately boosting enterprise revenue growth. CS, more than any other function, is positioned to be the driver of customer results and customer retention to fuel growth.

Enterprise 120

Enterprise Education Best practices Customer retention 120

Dialer 360

JUNE 12, 2023

As we step into 2023, HVAC companies need to adapt and employ effective tactics to attract and convert potential customers. Expanding your HVAC business depends on gaining new customers and it becomes challenging if you are not good at marketing. Here are some common lead-generation strategies: 1.

Advertising 48

Advertising Marketing Engineering Analytics 48

Method:CRM

JULY 29, 2022

To provide the best customer experience, you need the right tools behind you, like customer relationship management (CRM) software. But with all the options available, which one is the best CRM for customer service? Read on for the best CRM tools for customer service in 2023 and beyond!

CRM 52

CRM Customer Service Chatbots Self service 52