ShepHyken

JANUARY 27, 2020

(CustomerThink) Biometrics are transforming the way we interact and engage with our customers. From mobile devices that require biometric authentication to replacing the pin codes and using biometric data to open accounts, the business world is undergoing a transformation. Don’t just attract new customers.

Customer Service 54

Customer Service Customer retention Airlines Employee engagement 54

Totango

AUGUST 16, 2022

Customer Retention Software Cuts Down Client Churn. Customer retention software has become essential for effective SaaS customer success strategies. A winning SaaS business model must prioritize retaining customers, which is far more cost-efficient than acquiring new clients to offset churn.

Customer retention 103

Customer retention Upselling CRM SaaS 103

ShepHyken

DECEMBER 9, 2022

Let’s say you work in the financial services industry and your company advertises to current customers who actively use your mobile app and potential customers that interact with your digital content. The ad highlights how easy it is to open a checking account with your institution. . Reduced customer churn .

Sales 319

Sales CRM Contact Center Customer retention 319

Totango

OCTOBER 2, 2020

Equipped with the knowledge provided by customer data, you can help your customer survive tough times by offering practical solutions that add value and ultimately contribute to customer retention during economic downturns — even ones caused by a pandemic. Customer Retention Is Your Future.

Customer retention 118

Customer retention Enterprise Best practices Metrics 118

Beyond Philosophy

OCTOBER 28, 2014

If your system dictates certain ways of doing things, your choice affects how the Customer feels about your organization. Let’s say your IT system requires getting your email address for every customer to access the details of the account. When you ask the customer for this, they might think, “Why do they need this information?

Customer Experience 300

Customer Experience Customer centricity Scripts Customer emotions 300

Totango

JANUARY 26, 2021

Read on to learn what churn is, how an attrition analysis can help you pinpoint why you’re losing customers, and what steps you can take to prevent customer churn. What Is Churn Rate and How Does It Relate to Customer Retention? These are just a few examples of issues which can contribute to customer churn.

Customer retention 92

Customer retention Sales Marketing Big data 92

Totango

FEBRUARY 9, 2022

In the most passive manual renewal scenario, a company takes no proactive steps to encourage renewal, leaving it entirely up to the customer to remember it’s time to renew and take the necessary steps. In a minimally proactive scenario, a company might assign individual account managers to email, text, or call customers at renewal time.

Customer retention 97

Customer retention SaaS Best practices Upselling 97

ShepHyken

MARCH 27, 2018

Stop Losing Customers, Start Creating Loyalty. How can accountability create Moments of Magic ® ? Shep Hyken sits down with Joey Coleman to discuss how to “Never Lose a Customer,” which happens to be the title of his amazing book. What is customer retention strategies? How can you earn customer loyalty?

Customer retention 216

Customer retention Accountability Feedback Sales 216

Beyond Philosophy

OCTOBER 8, 2014

With their own brand to build and more freedom to test the waters, they can recruit more of the movers and shakers in the industry, which will lead to better products and services for their account holders. Competition is great for Customer Experience.

Customer centricity 276

Customer centricity Customer retention Customer emotions Airlines 276

Beyond Philosophy

OCTOBER 29, 2014

So there’s the lesson, Loss Aversion is a heuristic process that should be taken into account by organizations and policy makers. So, for my ending I want to leave you with John Oliver’s video on Scottish Independence : Why did I include that? Because it’s truly funny, and I want you leave you with a strong ending.

Customer Experience 351

Customer Experience Banking Customer emotions Employee engagement 351

Kapta Customer Success

FEBRUARY 7, 2022

More importantly, you should always be focused on your customers and how you can improve their experience with your brand and products or services. This starts with tracking your churn rate versus customer retention and running churn analysis to discover what's causing customers to go to the competition — and change it.

Accountability 98

Accountability Management Customer retention 98

Quiq

MARCH 31, 2022

Marketing and sales consistently combine their efforts to attain the most customers at the lowest price. But few businesses dedicate as many resources to customer retention. Keeping customers happy and continuing to buy from your e-commerce business deserves (and often requires) as many resources.

Customer retention 77

Customer retention Metrics Personalization Benchmark 77

ShepHyken

MARCH 13, 2017

(TCFCR) Retailers would be wise to take direction from successful B-to-B enterprises and learn how to handle new customers, how to better serve the consumer, and mirror the way new business accounts are valued and coddled. My Comment: So many articles on customer service focus on the retail industry (B-2-C).

Customer Service 236

Customer Service Best practices Customer retention Customer Support 236

ClientSuccess

NOVEMBER 2, 2022

Over the years, customer success manager roles have expanded to include many different responsibilities. Bridging the gap between customers and a product team is critical, from managing customer implementations to ongoing account maintenance. Keep tabs on customer satisfaction and account health. .

Customer retention 70

Customer retention Upselling SaaS Accountability 70

ShepHyken

DECEMBER 14, 2018

While useful, this often does not take into account the specific risks faced by an individual organization. Ted Bardusch, CISO at customer engagement hub Usermind highlights that a unified customer record is crucial to being able to meet the GDPR’s 72-hour customer breach notification rule. “To

Customer Experience 272

Customer Experience Government Coaching Customer retention 272

Kapta Customer Success

MAY 16, 2022

According to a collection of statistics from SEMrush, "44% of businesses focus on customer acquisition, while only 18% focus on customer retention.". But the statistics don't reflect this.

Accountability 104

Accountability Customer retention Management Sales 104

Kapta Customer Success

APRIL 29, 2024

Account managers can easily identify cross-sell and upsell opportunities with a white space analysis to increase customer retention and growth. Here’s how.

Customer retention 59

Customer retention Upselling Accountability Management 59

The Petrova Experience

JANUARY 14, 2025

Its 2025, and businesses across sectors have a customer retention problem. companies alone lose an estimated $168 billion annually due to customer attrition, as revealed in a CallMiner whitepaper. The financial implication of customer churn is staggering, with little end in sight, if unaddressed.

Customer retention 40

Customer retention Feedback B2C Metrics 40

ShepHyken

JULY 26, 2019

Let’s Get Acquainted With the Term Customer Experience. Mainly referring to a customer’s perception of their overall interactions, customer experience has been considered as a critical driver of customer retention and acquisition. 5 Ways to Enhance Customer Experience. Consumer research. Marketplace data.

Customer Experience 301

Customer Experience Feedback Customer centricity Customer retention 301

ShepHyken

MARCH 13, 2020

higher customer retention, 1.9x higher customer satisfaction rates” – Forrester. He or she can use all features, edit the details, and add admins, staff, and managers to the help desk account. This week we feature an article by Dwayne Charrington , a technical writer currently associated with ProProfs Help Desk.

Customer Support 277

Customer Support Customer retention Customer Experience Management 277

Kapta Customer Success

JANUARY 15, 2024

67% of businesses are prioritizing customer retention over new customer acquisition. If your business is making this shift, you’re likely interested in identifying the best tech to support your key account management team.

Accountability 59

Accountability Management Customer retention Technology 59

Beyond Philosophy

OCTOBER 6, 2015

which accounts for only about 6% of global sales for the brand. VW marketed the CleanDiesel car models for Audi A3, Jetta, Beetle, Golf, and Passat models to be better for the environment. They charged more for these environmentally friendly cars, too. The hope was the Clean Diesel would boost sales in the U.S.,

Banking 406

Banking Consulting Consulting Government 406

ChurnZero

AUGUST 15, 2024

One of the most effective ways to achieve this is to leverage AI for customer retention by using it to understand customer trends and mitigate churn risks. And yes, there will be some shameless plugs for UpdateAI—I’m not just the Head of Customer Success and Community; I’m also the biggest fan of our own product!

Customer retention 52

Customer retention Management Accountability Analytics 52

ShepHyken

JULY 13, 2018

However, given the overall increased focus on customer satisfaction over the last decade or so, it makes business sense to overhaul or rethink your B2B customer experience as well. Remember, your business client is also a customer. Relationship Building in B2B for Customer Retention.

B2C 38

B2C Customer Experience B2B Journey mapping 38

ShepHyken

MAY 25, 2018

This week we feature an article by Matt Nolan who shares five keys to building more compelling, sustainable customer relationships. Customer retention used to be considered just a “service problem.” – Shep Hyken. They also leverage value models that factor in channel constraints, like cost-to-serve.

Call Center 185

Call Center Customer retention Upselling Advertising 185

ProProfs Blog

APRIL 17, 2020

In short, your success relies on the fact that your customers don’t leave you. And if you successfully increase customer retention rates by 5%, then you can boost profits by 25% to 95%. That’s one of the reasons why y ou formulate strategies to retain your customers. 5: Customer Satisfaction Score. #6:

Metrics 142

Metrics Customer retention SaaS Surveys 142

CSM Magazine

MARCH 22, 2024

Loyal customers are the backbone of any business, regardless of niche, but keeping them engaged can be as challenging as landing a fish with a threadbare net. In today’s financial environment, dominated by fintech players, customer retention may seem like a thing of the past. When people feel cared for, they stick around.

Customer retention 52

Customer retention Finance Benchmark Banking 52

ShepHyken

FEBRUARY 25, 2022

Customer service is essential to the loyalty of your clients. Loyalty leads to customer retention, and retention is vital for businesses because the cost of acquiring new customers is on average five times higher than retaining your existing clients. Customer service starts with people .

outsourcing 156

outsourcing Customer retention Contact Center Customer Service 156

Kapta Customer Success

NOVEMBER 13, 2023

In today’s marketplace, customer retention is dependent on customer outcomes. In fact, the best predictor of customer retention is measurable customer results.

Accountability 59

Accountability B2B Customer retention Management 59

ChurnZero

JANUARY 26, 2022

Improving Customer Retention and Account Management with the ChurnZero and HubSpot Integration. With a dashboard that shows customer health and the opportunity to automate alerts, teams can improve customer retention rates exponentially. Complete 360° Customer Visibility. Production adoption.

Customer retention 97

Customer retention Chief Customer Officer Accountability SaaS 97

The Northridge Group

NOVEMBER 4, 2021

When executed appropriately, frontline excellence training produces contact center managers who can effectively train their associates to improve customer experience and increase first call resolution leading to cost savings and increased customer retention. . Accountability is essential for coaches as well as associates.

Best practices 145

Best practices Coaching contact center associations Contact Center 145

Kapta Customer Success

JANUARY 8, 2024

As businesses strive to do more with less, customer retention and expansion is the way to go. This allows you to spend less on costly new customer acquisitions while protecting the 20% of your existing customer base that generates up to 80% of your revenue. Looking to hit your business growth goals this year?

Upselling 59

Upselling Accountability Management Customer retention 59

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. It pays!

Customer Service 186

Customer Service Consulting Consulting Customer Experience 186

ShepHyken

MARCH 13, 2020

higher customer retention, 1.9x higher customer satisfaction rates” – Forrester. He or she can use all features, edit the details, and add admins, staff, and managers to the help desk account. This week we feature an article by Dwayne Charrington , a technical writer currently associated with ProProfs Help Desk.

Customer Support 198

Customer Support Customer retention Customer Experience Management 198

Totango

JUNE 30, 2020

Communication during a crisis is about protecting your core asset, your customers. The digital transformation of business has shifted enterprise focus toward customer retention and the pursuit of long-term value. Challenges such as the ongoing COVID-19 pandemic only reinforce the importance of keeping the customers you have.

Best practices 127

Best practices Customer retention Metrics Enterprise 127

TeleDirect

DECEMBER 25, 2024

Address customer concerns promptly, regardless of time zones. Financial Services Provide account support and fraud detection. Case Study 3: Tech Startup Reduces Downtime A tech startup outsourced 24/7 technical support to ensure customers received immediate assistance. Address urgent financial inquiries.

Call Center 127

Call Center Customer Experience Technical Support Healthcare 127

ChurnZero

JULY 2, 2021

SaaS companies must be cognizant of and weigh the implications brought about by a sole focus on these metrics when assessing the performance of and building strategies for Customer Success. In this article, you’ll learn: Differences between Net Revenue Retention, Gross Revenue Retention, and Customer Retention with definitions and examples.

Customer retention 97

Customer retention Metrics Upselling Chief Customer Officer 97