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Guest Blog: How to Engage Customers with Your Brand

ShepHyken

By engaging existing customers, businesses aim to retain them. Acquiring a new customer is about five to 25 times more expensive than retaining an existing one. Increasing customer retention rates by 5 percent increases profits by 25-95 percent. It makes business sense to value and retain the right customers.

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Guest Blog: The Rise of Chatbots in Customer Experience

ShepHyken

These virtual customer experience tools are transforming the way that companies interact with their customers in the contact center environment. When used correctly, chatbots have the power to enhance marketing, sales, customer retention and more.

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Guest Blog: Omnichannel Customer Service – Why should you implement it in your business?

ShepHyken

Therefore, it’s an excellent feature for increasing sales: the faster you provide information, the greater the likelihood the customer will make a purchase. Customer retention. If the service meets your customers’ expectations, they will be more satisfied with your company — and satisfied consumers buy more.

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Guest Blog: Do customer experience teams take cyber security risks?

ShepHyken

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 To guarantee customer retention, CX teams need to consider a security breach as a likely stop along the customer journey.

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How to use the customer retention rate formula

Callminer

Read this blog to learn how to use the customer retention rate formula, common variations, and how you can put it to use in your organization.

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Guest Blog: How to Make Effective Customer Experience Strategies for a Software Development Company?

ShepHyken

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. It’s way beyond attaining requests and offering assistance or help.

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How to Increase Customer Retention: 15 Proven Strategies That Work

Interaction Metrics

What Is Customer Retention and Why Does It Matter? Customer retention might sound like fancy business jargon, but really, it’s just the art of keeping your customers happy enough that they stick around. Thats customer retention at workusing incentives and positive experiences to keep you coming back.