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. I’m often asked to define customer centricity.

Customer Service 180

Customer Service Contact Center Customer centricity Banking 180

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.

Customer retention 62

Customer retention Customer advocacy Wait times Brand ambassadors 62

ClearAction

DECEMBER 13, 2017

Customer Centric Sales & Service Policies Lynn Hunsaker. For example, think of Zappos and LL Bean: for their customer-centric sales and service policies, they’ve earned widespread admiration among customers, as well as among executives across a variety of industries who’ve sought to learn from them.

Customer centricity 54

Customer centricity Sales Entertainment Government 54

C3Centricity

AUGUST 6, 2024

In 2023 I wrote a popular post covering the ten most common challenges businesses face when starting their journey to customer centricity. It is called “Top 10 Challenges Facing Companies When They Adopt a Customer-First Strategy.” As before, I provide supporting data and some inspiring case studies to get you going.

Customer centricity 62

Customer centricity Big data Customer retention Enterprise 62

Beyond Philosophy

NOVEMBER 10, 2014

So instead of writing philosophically about the importance of optimizing your Customer Experience to creating an emotional engagement that creates loyalty between your Customers and your organization like I usually do, I will limit this post to facts and figures. Keeping Customers results in a high increase in value.

Customer Experience 411

Customer Experience Customer retention Upselling Banking 411

PeopleMetrics

JUNE 30, 2014

And yet, so many businesses claim that they have or aspire to have a customer centric culture - to become more customer-centric, to put the customer first, to be customer-inspired. Customer Centric Culture and Our Approach. We were looking to uncover the dimensions of customer-centric cultures.

Customer centricity 111

Customer centricity Benchmark Scripts Customer retention 111

ShepHyken

SEPTEMBER 7, 2020

Each week I read a number of customer service and customer experience articles from various resources. Winning means losing in the game of customer retention by Linda O’Grady. CMO) All too often retention is a blanket goal. ‘We Here are my top five picks from last week. by Steve Williamson.

Construction 233

Construction Customer Service Feedback Customer retention 233

Beyond Philosophy

JANUARY 23, 2015

As a leader or a marketer if you want an employee or a customer to change behavior, research says the best thing to do is give them positive reinforcement when they do what you want. Several studies conclude that positive reinforcement is the best way to encourage better behavior. Study #1: Punitive Consequences Encourage Deception.

Customer emotions 315

Customer emotions Customer centricity Customer retention Consulting 315

Kayako

JANUARY 24, 2018

Which brings me neatly toward 2018’s customer service trends: Customer Service Trends 2018: Creating Effortless Customer-Centric Experiences. Becoming customer-centric will be the goal of most businesses this year. What will make a business more customer-centric than the next one?

Customer centricity 83

Customer centricity Customer Service Self service Chatbots 83

Horizon CX

APRIL 1, 2024

Customer experience maturity is a way of measuring an organization’s ability to design and deliver a consistently positive customer experience. These characteristics may include: Customer-centric culture: The organization has a culture that is obsessed with the customer and focused on meeting their needs.

Journey mapping 52

Journey mapping Customer centricity Customer retention Feedback 52

Win the Customer

SEPTEMBER 12, 2023

McKinsey highlights that this approach has been a game-changer for numerous established businesses looking to innovate in customer-centricity. Tailored Recommendations In today’s age, customers expect businesses to understand their unique preferences. Cultivating a Customer-Centric Culture 1.

Customer Experience 59

Customer Experience Customer centricity Analytics Feedback 59

Beyond Philosophy

DECEMBER 23, 2015

Reflective of the escalating focus on customer data, experiences, and relationships across all methods of communication and access, the role is rapidly evolving and morphing; however, there is general agreement regarding its significance in building and sustaining true value, planning capability, and enterprise customer-centricity.

Chief Customer Officer 250

Chief Customer Officer Enterprise Customer centricity Consulting 250

SmartKarrot

APRIL 15, 2022

We have stressed it time and again – customer retention is key to the growth of a business! Good customer retention rate = product/market fit. It also means increased customer lifetime value, increased revenue, lower customer acquisition cost , and higher average order value. What makes it a must-read.

Customer retention 19

Customer retention CRM SaaS Customer centricity 19

Beyond Philosophy

NOVEMBER 11, 2014

One study from Duke University estimated that habits shape 45 percent of the choices we make every day, not conscious decision making as you might have thought. This statement from the psychologists Townsend and Bever captures one of the great truisms of human behaviour – and one of the great challenges for marketers.

Marketing 418

Marketing Customer emotions Employee engagement Customer centricity 418

Beyond Philosophy

OCTOBER 29, 2014

Some studies suggest that losses are twice as powerful, psychologically, as gains… Note that whether a transaction is framed as a loss or as a gain is very important to this calculation: would you rather get a $5 discount, or avoid a $5 surcharge? The same change in price framed differently has a significant effect on consumer behavior….

Customer Experience 351

Customer Experience Banking Customer emotions Employee engagement 351

ChurnZero

SEPTEMBER 16, 2022

Get You Mon’s insights on what subscription businesses should do now to navigate a downturn, and learn the factors that put customers at risk of churn, what most people get wrong about customer satisfaction, and why “agility” is about more than process. Double down on customer retention during a downturn. “In

Customer retention 98

Customer retention Customer centricity Metrics Sales 98

ijgolding

AUGUST 3, 2018

Sticking with the retail industry, it gives me no pleasure to bring this to life with a case study – an example of exactly why organisations are failing to transform and ultimately survive in an increasingly disrupted world.

Multichannel 76

Multichannel Customer centricity Sales Management 76

Beyond Philosophy

SEPTEMBER 15, 2015

He is the Head of Data Science (self-described as Chief Statistics Wonk) for Satmetrix , a company devoted to combining their software, data, and Customer Experience (CX) expertise to help organizations achieve Customer-Centricity. Simplicity is part of the reason that Netflix has fared better in NPS trends than cable companies.

Banking 383

Banking Telecommunications Consulting Consulting 383

Totango

FEBRUARY 11, 2022

Why Take B2B Customer Experience Seriously? Customer experience has a significant impact on customer retention rates as has been shown by several studies conducted on B2C relationships. Just 14% of large B2B brands are truly customer-centric, according to research by market research firm B2B International.

B2B 111

B2B Customer Experience B2C SaaS 111

Lumoa

FEBRUARY 9, 2023

The focus on enhancing customer experience has gained traction in recent years. As businesses recognize its value, the shift from a product-centered approach to a customer-centric one continues. Customer-Centricity Customer centricity refers to customer-oriented culture in the company.

Customer Experience 167

Customer Experience B2C Journey mapping B2B 167

ProProfs Blog

MARCH 6, 2020

Bill Gates, the wealthiest business tycoon, said, “ Your most unhappy customers are your biggest source of learning ”. Bill might be running one of the biggest companies that the world has ever seen; however, he too has to deal with unsatisfied and complaining customers. . 4 Obvious Reasons Why Customer Satisfaction Is Important . #1.

Customer centricity 152

Customer centricity Surveys Analytics Sales 152

Global Response

FEBRUARY 26, 2024

Quality customer service matters; just look at the numbers: 83% of customers are more loyal to businesses that respond to and resolve their complaints. And by increasing customer retention by a mere 5%, companies raise their profits between 25% and 95%.

Call Center 62

Call Center Customer Service outsourcing CRM 62

C3Centricity

AUGUST 17, 2020

Up until the covid-19 virus hit across the globe, almost every single organisation, big or small, recognised the importance of satisfying their customers. But most of them were only giving lip service to customer-centricity and very few were actually going beyond voicing their opinions. Customers 2020 Report.

Customer centricity 65

Customer centricity Airlines Big data Marketing 65

Satrix Solutions

JANUARY 24, 2022

With this in mind, here are a few recommendations for the New Year to answer the question – “How are your platforms and teams going to provide more robust customer experiences into 2022?”. Develop a robust CX program that business leaders can stand behind and build a customer-centric culture within the organization.

Customer Experience 97

Customer Experience B2B Customer centricity Feedback 97

Totango

AUGUST 21, 2020

An enterprise cannot survive without satisfied customers to support it. This has always been true, but never has it been more true than in the era of customer-centricity that we now live in. Why Invest in Customer Success? Investing in customer success can: Increase customer retention rates and keep customers engaged.

Enterprise 78

Enterprise Customer centricity Customer advocacy Accountability 78

Talkdesk

JUNE 1, 2016

JOHN : Customer retention is important in itself, but it is also valuable because your customer base can lead to almost a second wave of acquisition. The later adopters want to see case studies and to see that it really works. The post How to Grow Customer-Centric Companies in Down Markets appeared first on Talkdesk.

Customer centricity 40

Customer centricity Marketing B2C Benchmark 40

Win the Customer

SEPTEMBER 12, 2023

It’s a key driver of customer loyalty and can significantly impact your company’s bottom line” [Forbes – What’s Wrong With Customer Satisfaction ?].

Metrics 59

Metrics Customer centricity Customer effort Customer retention 59

Beyond Philosophy

JULY 12, 2016

Namely, the connection between satisfaction and behavior, whether by customers or employees, has been challenged and largely refuted in study upon study. Customer Loyalty on the other hand has two definitions. What’s true for customer attitudes relative to behavior can also be applied to employees.

Employee engagement 170

Employee engagement Consulting Consulting Metrics 170

ProProfs Blog

OCTOBER 30, 2021

68% of customers trust feedback more when they see both positive and negative scores. Customers are likely to spend 31% more on a brand having excellent reviews. Hence, customer feedback is a crucial aspect of nurturing a customer-centric culture. What is Customer Feedback? Helps value customer opinions.

Feedback 143

Feedback Surveys Customer centricity Metrics 143

Amity

NOVEMBER 9, 2016

About the industry: Only 23% of B2B marketers claim that their organizational structure is customer-centric, as opposed to channel or product-centric. As early as 1990, a study from the Harvard Business Review showed that increasing customer retention rates by 5% leads to profits increasing by 25% to 95%.

Customer retention 107

Customer retention B2B Customer centricity Accountability 107

RapportBoost

DECEMBER 10, 2018

According to research from Aberdeen, companies who provided an Omni-channel customer experience achieve a 91% higher year-over-year increase in customer retention, compared to organizations who don’t. There are many channels and customers often have strong preferences. Why does this matter to us? Nate: Thanks everybody.

Customer centricity 40

Customer centricity Contact Center Self service Journey mapping 40

Customer Relationship Metrics

JULY 26, 2017

In a study by Jobvite, 95% of recruiters say hiring will be as or more competitive in the coming year (2017). And as many studies have confirmed, engagement is directly correlated with higher levels of individual and organizational performance. This results in higher profits, lower costs, higher customer retention and referrals.

Contact Center 211

Contact Center Calibration Construction Customer centricity 211

ChurnZero

APRIL 13, 2021

To help drive recurring growth the CCO must focus on initiatives such as customer prioritization, customer retention, customer loyalty, customer satisfaction, as well as improving the customer experience. Create a customer-centric culture. Customer Success Operations Manager.

Chief Customer Officer 98

Chief Customer Officer Customer centricity Customer advocacy Accountability 98

Real Blue Sky

MAY 31, 2023

This, in turn, helps us identify areas where we can improve the customer experience and tailor it to each individual at each step along the journey. With a detailed customer journey map, we can optimize customer interactions, boost customer retention, and increase revenue.

Journey mapping 96

Journey mapping Airlines Customer Experience Customer centricity 96

Satrix Solutions

SEPTEMBER 8, 2020

Another important payoff of the marketing department’s involvement in CX is a strong reputation as a customer-centric organization, which has differentiated them from others in the marketplace. Customers are grouped into three categories based on their response to the NPS survey – Promoter, Passive, or Detractor.

Marketing 78

Marketing Customer Experience Benchmark B2B 78

ChurnZero

JANUARY 8, 2021

Against the backdrop of wild economic uncertainty, Customer Success has been the failsafe of SaaS businesses that were blindsided by pandemic-induced churn and contraction. She has a proven record implementing customer-focused retention and growth strategies for cloud-based global tech companies. Follow Charlie on LinkedIn. .

Chief Customer Officer 98

Chief Customer Officer Healthcare Customer centricity Customer retention 98

Customer Guru

DECEMBER 13, 2017

In a global customer experience study conducted by Oracle, it was found that while businesses want to be seen as CX leaders in their industry, they aren’t doing much about it. Source: Oracle Global CX Study, 2013. The biggest challenge is aligning the organization towards the goal of customer centricity.

Customer Experience 119

Customer Experience Chief Customer Officer Customer centricity Coaching 119