GetFeedback

DECEMBER 21, 2018

Learn about the top two customer surveys for predicting and increasing customer retention. Anytime a customer cuts ties, you experience the negative impact of customer churn. Here are 40 customer retention statistics that reinforce the growing need for customer experience management.

Customer retention 156

Customer retention B2B Surveys B2C 156

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

ProProfs Blog

JUNE 21, 2019

Do you have a customer retention strategy? Companies focus on customer acquisition strategies, since increasing your customer count is the lifeblood of your business. But, customer acquisition won’t help, if you are unable to retain customers. Understand Customer Retention.

Customer retention 95

Customer retention Sales Marketing Scripts 95

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

ChurnZero

AUGUST 11, 2020

Did you know that 60% of SaaS companies reported a negative impact on customer retention and upsell deals due to the pandemic? Customer retention, along with new customer acquisition, has been challenging for most companies when the pandemic hit. This is a guest blog post by Anita Toth, Chief Churn Crusher. .

Customer retention 97

Customer retention Chief Customer Officer SaaS Accountability 97

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

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

Help Scout

MAY 12, 2021

In this article, we discuss the role of support teams in retaining customers and show how to combine high-quality, empathetic customer service with a deliberate focus on business growth. What is customer retention and how is it measured? Report on “saved customers”. Your sales team. Your sales team.

Customer retention 117

Customer retention Finance Analytics Customer effort 117

Totango

FEBRUARY 10, 2021

A customer success strategy is a proactive plan for guiding your clients to outcomes that satisfy their needs. When your customers enjoy more value, your product adoption rates rise and customer retention rates go up. This promotes success for your company as well as your customers.

Customer retention 88

Customer retention Journey mapping SaaS Benchmark 88

Hello Customer

JANUARY 16, 2020

January typically is a month to forecast trends, and we believe customer retention will be an important one. Of course, this isn't a new strategy. But we see increasingly more organisations move their focus from aggressive acquisition investments to retention management. Customer retention or acquisition?

Customer retention 92

Customer retention Feedback Customer Care Metrics 92

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

Pointillist

JUNE 15, 2018

Much of the marketing world is still focused on customer acquisition, but to improve customer retention will yield f ar better ROI and cost about 5-25X less than customer acquisition. What is Customer Retention? Why Customer Retention Matters. My Customer Retention ?

Customer retention 110

Customer retention Analytics Airlines Personalization 110

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

Totango

FEBRUARY 9, 2022

Other factors include the customer’s financial situation, their perception of the value they derive from their subscription, how easy it is for them to renew their subscription and whether they’re considering any competing products. One strategy for increasing your contract renewal rate is effective automation of the renewal process.

Customer retention 97

Customer retention SaaS Best practices Upselling 97

Beyond Philosophy

OCTOBER 8, 2014

They have Customer-centric leadership. It’s great that their new CEO, Dan Shulman is coming from American Express, a highly Customer-centric company. Alos, Shulman was instrumental in American Express’ strategy to bring to market new digital payment services. Competition is great for Customer Experience.

Customer centricity 276

Customer centricity Customer retention Customer emotions Airlines 276

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

ShepHyken

MARCH 13, 2020

higher customer retention, 1.9x higher customer satisfaction rates” – Forrester. They can’t be available 24/7 to serve your customers, so how do you deal with this? Website monitoring is a great way of finding out if what you are offering matches the expectations of your customers. Experience-led businesses have 1.7x

Customer Support 277

Customer Support Customer retention Customer Experience Management 277

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

Totango

FEBRUARY 28, 2020

Creating a strong customer engagement strategy makes sure every interaction delivers that value. At the same time, an effective engagement strategy incorporates much more than 1:1 touchpoints, and considers engagements such as 1:many opportunities, including communities, events, advocacy, and learning. Nurturing Customer Growth.

Customer centricity 93

Customer centricity Metrics Upselling Enterprise 93

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

SharpenCX

JUNE 8, 2021

If your team can’t retain customers and establish long-term relationships that last, your entire company suffers the losses. According to research out of Bain & Company , increasing your customer retention rate by just 5% can increase profits anywhere from 25 to 95%. Customer acquisition on the other hand is costly.

Customer retention 76

Customer retention Coaching Employee engagement Contact Center 76

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.” Read Shep’s latest Forbes Articles: Change In Amazon’s Liberal Return Policy Is Good For Customers.

Call Center 185

Call Center Customer retention Upselling Advertising 185

Outsource Consultants

OCTOBER 11, 2021

Typically a combination of automation and live agent support, the channel has become wildly popular, with 73% of customers saying live chat is the most satisfactory way to engage with brands. Success Strategies. 80% of business leaders cite email and email support as their greatest driver of customer retention.

Customer Support 117

Customer Support outsourcing Customer advocacy Contact Center 117

Totango

MAY 7, 2024

By our math, that means nine out of 10 revenue-accountable leaders need a hand getting on the same page as their fellow go-to-market (GTM) counterparts. Strategy #2: Align on customer outcomes Both teams should be laser-focused on customer results. Both Sales and CS need to have ownership for revenue outcomes.

Sales 100

Sales Upselling Metrics Accountability 100

Totango

MAY 11, 2021

Stakeholder engagement and management is critical for customer retention. Here’s how to plan an effective stakeholder management strategy and track your performance. A well-designed stakeholder engagement and management strategy includes two key components: An action plan for promoting stakeholder engagement.

Management 88

Management Journey mapping Best practices Metrics 88

Totango

NOVEMBER 5, 2021

What do you do when you realize that 95 percent of your customer base is tech-touch and you don’t have the manpower to properly engage with and measure this group? Getting Started: Tips for Implementing an Effective Customer Engagement Strategy. What were the main challenges you found when implementing a digital strategy? .

Journey mapping 113

Journey mapping Accountability Marketing Metrics 113

IdeasUnlimited

AUGUST 26, 2022

IdeasUnlimited is no stranger to inflation and has devised many strategies to mitigate its effects. In almost every case, price increase has a direct impact on customer retention so companies must be very careful where they target their price increase. Normally, accounting analysis is done on a quarterly basis.

Finance 95

Finance Transportation Customer retention Healthcare 95

ClientSuccess

JANUARY 25, 2021

The old adage that ‘your current customers are your best marketing tool’ still holds true, even in the age of digital marketing and SaaS vendors. Your current customers know your product inside and out and, hopefully, have seen firsthand the value your solution provides and the support of your account management team.

Customer retention 81

Customer retention Marketing SaaS Accountability 81

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

Help Scout

APRIL 27, 2021

Put simply: Improving user adoption means higher retention and lower churn rates. Let’s take a look at six user adoption strategies SaaS companies can use to turn more trial users into customers and retain those customers long term. Encourage existing customers to grow their accounts. What is user adoption?

SaaS 94

SaaS B2B Accountability Marketing 94

Nicereply

JUNE 2, 2022

However, if you’re just starting, social media can provide everything you need for customer service. Social media channels are great since: almost everyone in the world uses them today, you can chat seamlessly with customers on social media. Your social media strategy shouldn’t just be your social media marketing.

Customer Service 97

Customer Service Chatbots Customer Support Accountability 97

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

JANUARY 28, 2024

I’ll sum it up this way: Don’t plan your customers’ journey without knowing the customers’ journey. Investing in Experience Should Be Core to Business Strategy, Not Discretionary Spend by Ron Shamah (Fast Company) In a tenuous economy, everything is on the chopping block. The numbers make the case. CX doesn’t cost.

Customer Service 186

Customer Service Consulting Consulting Customer Experience 186

CSM Magazine

AUGUST 14, 2020

In the regular world, obtaining customer loyalty is an important goal for any business to achieve. Nowadays, customer retention is not just a yummy dessert but the main course: the bread and water; the filet mignon and wine of post-COVID business survival. But the world we are living in is far from regular. E xpert Guidance.

CRM 85

CRM Customer retention Feedback Sales 85

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

Totango

DECEMBER 28, 2021

On the other hand, the more customers you can retain, the more revenue you gain from new customers you acquire, and the more your profit margins grow. This makes fighting customer churn one of the most efficient ways to increase your profits. Here we’ll look at four proven strategies for reducing customer churn.

Best practices 99

Best practices Benchmark Education Surveys 99

ShepHyken

MARCH 13, 2020

higher customer retention, 1.9x higher customer satisfaction rates” – Forrester. They can’t be available 24/7 to serve your customers, so how do you deal with this? Website monitoring is a great way of finding out if what you are offering matches the expectations of your customers. Experience-led businesses have 1.7x

Customer Support 198

Customer Support Customer retention Customer Experience Management 198