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.

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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 ?

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Customer retention Analytics Airlines SaaS 110

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).

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Customer Service Best practices Customer retention Customer Support 230

Win the Customer

JANUARY 19, 2016

For instance, in the financial services industry, a five percent increase in customer retention increases profits more than 25 percent, according to Bain & Company. Eighty percent of your future profits will come from 20 percent of your customers, Gartner says. Improve Your Customer Experience.

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Customer retention B2B Surveys Feedback 81

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.

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Customer retention Marketing SaaS Accountability 81

Totango

DECEMBER 10, 2019

When you make customer retention for B2B business models a priority, you’ll not only save money on acquisition costs; you’ll also unlock the growth potential of your existing customer base. Let’s explore why customer retention for B2B is so important and how you can make it happen. What about existing customers?

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PeopleMetrics

NOVEMBER 17, 2015

As recent high-profile data breaches like those of super brands Target and Neiman Marcus have shown, data security has become an important variable in the formula for customer retention. Your ability to leverage data security will play a vital role in customer retention online and offline. Make it Easy.

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Cincom

JANUARY 30, 2025

In this tech-driven era, keeping customers interested in the business is a full-time job. One of the recent studies revealed that on average, 65% of a companys revenue is from approximately 8% of their most loyal consumers and repeat customers. CRM, claims, policy details, financial accounts) into a unified platform.

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Customer retention Customer Experience Analytics Feedback 40

ChurnZero

MAY 5, 2020

As businesses are thrust into uncharted territory, figuring out how to navigate customer retention strategies to minimize churn will determine their survival. For those who were unable to attend or would like a session refresher, below are the top takeaways for crafting your customer retention game plan. .

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Customer retention Chief Customer Officer Construction Morale 72

Beyond Philosophy

SEPTEMBER 6, 2016

They focus instead on chasing down the next sale, competing on price and compensating employees more for winning new accounts than for keeping existing customers happy, engaged and loyal. showed that 80% of companies spend too much of their marketing budget on customer acquisition. He calls these companies Acquirers.

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ShepHyken

JANUARY 28, 2024

The study comes as some companies remove self-checkout machines and others adjust their self-checkout operations. There are plenty of facts and stats to back this up, and I like the author’s conclusion that CX is not optional, even in a challenging economy. Is this a failed experiment? The numbers make the case. CX doesn’t cost. It pays!

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Amity

MARCH 18, 2016

It might get a bit tricky because you have to be present all the time and make sure to answer as quickly as you can or you’ll end up frustrating your customers. Delivering a WOW experience: Always try to be as present and responsive as you can across all your social media accounts. Sprout Social. Competitor Monitor.

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CustomerSuccessBox

MARCH 25, 2022

Then while considering customer acquisition cost (CAC) why miss out on customer retention cost (CRC)? They both are of equal significance and when the matter is to retain your loyal customers to have repeat business with you, this metric needs a bit of attention as well. About customer retention cost.

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Hodusoft

MARCH 18, 2025

If you are already logged into your social media account, click on the search bar, and type the name of one or multiple e-commerce companies you can think of. Improve Customer Retention Rate According to recently published data , the average customer retention rate in the e-commerce sector is about 38 percent.

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ClientSuccess

JUNE 19, 2019

If you think retaining an existing customer is expensive and unnecessary, try acquiring a new one. It will surely get your brain and bank account working overtime. Increasing customer retention by 5% can increase profits by 25-95%. Shocker, right?

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CustomerSuccessBox

APRIL 9, 2021

Why choosing the right Customer Retention Software has become so important for B2B SaaS Business? To know the answer, let’s have an overview of how customer retention works for B2B SaaS Business. This is where B2B Customer Retention software becomes imperative for a growing subscription business.

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aircall

JUNE 30, 2021

Many look to the company for ways to improve customer retention. Email: Ring’s Secret to Improve Customer Retention. For one thing, it sends new customers emails to share tips on properly setting up the product. However, Ring is not the only company to reap the rewards of its stellar customer retention strategies.

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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?

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Amity

NOVEMBER 9, 2016

Directors of Customer Success make on average 125K to 150K per year, and finally, a CCOs and VP salary averages between 150K and 175K. In 2016, 60% of Customer Success Organizations have been around for 2 years, or less. 90% of teams have an account segmentation strategy and 67% segment their user base by account size.

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Customer retention B2B Customer centricity Accountability 107

Outsource Consultants

MARCH 18, 2025

These case studies show that, when executed thoughtfully, outsourcing can boost service performance while controlling costs. A study by ContactBabel found that these hidden costs can account for up to 15% of the total outsourcing expense in the first year. Another often-overlooked expense is the cost of quality assurance.

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Call Center outsourcing First call resolution Average Handle Time 67

Callminer

APRIL 30, 2020

The most successful companies have solutions in place for monitoring customer interactions and analyzing customer sentiment. It also protects against an even more infuriated customer out in the marketplace spreading negative messages.” Account for customers’ biases and try to adapt to their communication style.

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Customer Service Scripts Construction Feedback 273

Fonolo

APRIL 9, 2019

Consider integrating your call center phone system with your customer relationship management (CRM) software so that a caller’s account information appears on an agent’s screen when the customer calls. With this information in front of them, agents are better prepared to resolve a customer’s concern. Ease of Access.

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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.

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Customer retention Chief Customer Officer Accountability SaaS 97

ProProfs Blog

FEBRUARY 13, 2020

Another study by Statista confirms that the reason why loyalty programs are a hit among customers is that they love getting good discounts on their purchase. Customer Loyalty B2B Statistics. Over a period of time, customer loyalty has become one of the top priorities for brand marketers to judge how a business is performing.

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CustomerSuccessBox

MAY 17, 2021

So what are the proven hacks to driving customer retention ? Top 6 strategies/hacks to retain customers. Segmenting Customers. Configuring 360-degree account health. So you’re growing and now want to scale up your customer retention and you’re contemplating automation. Segmenting Customers.

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Quality Contact Solutions

SEPTEMBER 21, 2021

If customer retention is not at the forefront of your business’s strategic plan, it should be. Did you know that retaining existing customers is far more cost-effective than acquiring new ones? In this article, we’ll cover 5 ways to retain customers.

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JustCall

MAY 14, 2020

But the operation that is facing the most critical hit is – Customer Retention. Customer acquisition has become more difficult than ever. And businesses have shifted their focus towards Retention. But are you still sticking to the old-fashioned customer retention strategies?

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Customer retention Journey mapping Education Feedback 52

The Northridge Group

MARCH 21, 2022

Authored by Daniel Fenton , Director, Enterprise Accounts and Molly Clark , Senior Director, Operational Analytics. It’s every Contact Center manager’s worst nightmare, the customer who repeatedly calls back because their issue has not been resolved to their satisfaction. According to a recent study, 52% of U.

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JustCall

MAY 14, 2020

But the operation that is facing the most critical hit is – Customer Retention. Customer acquisition has become more difficult than ever. And businesses have shifted their focus towards Retention. But are you still sticking to the old-fashioned customer retention strategies?

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Customer retention Journey mapping Education Feedback 52

Education Services Group

NOVEMBER 25, 2019

As the gospel of Customer Success is spreading like wildfire in the corporate world, executives are realizing that they need to act fast to incorporate it into their organizational structure. But to their own detriment , some of these executives aren’t fully committing to the importance of Customer Success.

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Kayako

AUGUST 21, 2018

What is customer retention? Simply put, customer retention refers to the strategies and tactics businesses use to encourage repeat purchases and ongoing loyalty from their existing customer base. That’s why customer retention is so vital for businesses of every stripe. Stand Behind a Social Mission.

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JivoChat

JULY 20, 2021

People have a lot of options these days, so if you don’t have good customer retention strategies , your business won’t be as stable or profitable. It costs five times as much to win a new customer as it does to retain an existing one. In this post, we’ll reveal why you should start focusing on customer retention and when.

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PeopleMetrics

AUGUST 10, 2016

We recently aggregated data from across all of our clients to see what we could learn about overarching trends in banking customer experience. Here are five highlights from the study, which you can download in full here. #1: 1: Customers are reporting positive experiences. When customers are young, they worry about saving more.

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Banking Customer Experience Feedback Accountability 63

Totango

FEBRUARY 11, 2022

Relationships with B2B customers tend to be more challenging to manage successfully due to complex requirements, a greater number of stakeholders, and organizational interdependencies. Why Take B2B Customer Experience Seriously? Make sure that your product includes the features your customers say they want most in their feedback.

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ChurnZero

OCTOBER 28, 2021

Q&A Recap: 2021 Customer Success Leadership Study Results Revealed. With each passing year the Customer Success industry matures and meets new challenges along the way, and this year has been in many ways just as challenging as the last. Jay Nathan , Chief Customer Officer, Higher Logic. Marley Wagner , Sr.

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CSM Magazine

FEBRUARY 19, 2025

Here, we’ll walk you through the features to prioritize, the benefits for businesses and customers alike, and how it fuels growth in a competitive global market. Imagine a customer contacting your business for support and being met with communication barriers. Operational Efficiency : Reduce manual effort through AI-driven tools.

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Education Services Group

JULY 27, 2021

But my favorite way to showcase your past successes and your current abilities to the world is by telling a customer’s success story with a case study. Case studies can be some of the most powerful content because they tap into one of the most powerful methods of communicating – storytelling. Our brains love stories.

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