TechSee

JANUARY 7, 2020

Accenture reports that 77% of consumers are no longer loyal to any particular brand, telcos must work harder than ever to retain their customer bases. Acquisition costs far outweigh those of keeping current customers, further motivating companies to implement innovative strategies to boost customer retention in the telecom industry.

Customer retention 136

Customer retention Interactive Voice Response Telecommunications Wireless 136

CustomerSuccessBox

APRIL 19, 2021

The real skill behind customer retention is helping customers achieve success. It would be great if you could rely directly on customer feedback to understand their satisfaction levels but more often than not these satisfaction surveys are lagging indicators. By then 50% of your customer base has already churned.

Customer retention 52

Customer retention SaaS Metrics APIs 52

Global Response

JULY 28, 2023

Many companies focus primarily on customer acquisition, sometimes at the cost of customer retention. After all, the more customers, the better, right? For example, recent data shows that 92% of customers will switch companies after just three—or fewer—bad experiences.

Customer retention 62

Customer retention Contact Center outsourcing Feedback 62

ShepHyken

MAY 13, 2024

Life on the Digital Edge: Evolving Your Customer Experience by Ragy Thomas (Fast Company) When communication was mostly one-way and brand experiences were driven by mass advertising, data was structured and mostly owned. My Comment: I enjoy articles on customer service metrics. Data analytics. What Is Churn Rate?

Customer Service 193

Customer Service Customer retention Metrics Advertising 193

delighted

MARCH 23, 2021

By emphasizing customer retention as a key performance indicator (KPI) for your business, you can ensure your priorities are in the right place. What’s your customer retention rate? Before you can focus on improving customer retention, you must benchmark how you’re currently doing in this department.

Customer retention 116

Customer retention Feedback Surveys Benchmark 116

Totango

OCTOBER 2, 2020

During difficult times, it is especially important to understand what is going on inside your customer’s mind, as well as what is going on inside their business. Providing Value Is Key to Retaining Customers During an Economic Downturn . Every act of providing value is therefore an act of customer retention.

Customer retention 118

Customer retention Enterprise Best practices Metrics 118

Global Response

AUGUST 7, 2023

There’s no business out there who doesn’t want to improve their customer retention and CLV. The secret weapon to improving customer retention and CLV? First, customer retention rates are always measured based on a specific timeframe, typically monthly, quarterly or annually. Your call center.

Customer retention 62

Customer retention Call Center Upselling Personalization 62

Totango

MARCH 5, 2021

Customer retention is the lifeblood of any savvy enterprise. It’s the only way to be successful in this customer-centered economy and ensure scalable long-term revenue. To retain customers, companies must make the customer experience better and ensure customers never stop seeing value from their product or service.

Customer retention 89

Customer retention Upselling Enterprise Benchmark 89

OctopusTech

JULY 17, 2023

Customer retention email plays a major role for the growth of any company. But what about your existing customers who keep purchasing your products? This is where customer retention email comes in as with this a company can use different email strategies to make them buy the goods again from a brand.

Customer retention 62

Customer retention Surveys Feedback Marketing 62

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? For a subscription business, this is a clear and simple metric.

Customer retention 117

Customer retention Finance Analytics Customer effort 117

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

Nicereply

MARCH 28, 2022

There’s no better time to do a little spring cleaning on your metrics. Why do a customer service metrics health check? The problem with metrics and statistics is that they are only as reliable and valuable as the data used to create them. This is what a metrics health check is designed to do.

Metrics 98

Metrics Customer Service Customer effort Surveys 98

ClearAction

DECEMBER 5, 2023

4 Gold CX Metrics for CX Leaders Lynn Hunsaker Concentrate on just 4 CX metrics and you’ll see greater progress in more than 20 growth metrics. Otherwise, gaps between these will cost you a lot (negative word of mouth (customer effort score, CSAT), churn, costs to serve, internal productivity, etc.).

Metrics 62

Metrics Chief Customer Officer Customer retention Strategic Value 62

Education Services Group

APRIL 27, 2022

I’m not going to waste time trying to document how to correctly (mathematically) calculate all the three letter acronyms—but feel free to check out our Customer Success Definitions, Calculations, and Lingo…Oh My! Instead, I want to do some level setting on some specific metrics and flaws I see in the industry. The Resolution.

Metrics 98

Metrics Surveys SaaS CRM 98

ClientSuccess

NOVEMBER 2, 2022

SaaS organizations are focusing more on maintaining and cultivating long-term customer relationships than ever before, and CSMs are at the forefront of these efforts. Here are some tips that can help your customer success team boost customer retention and reduce churn: 1. The post Ready to Boost Customer Retention?

Customer retention 70

Customer retention Upselling SaaS Accountability 70

Nicereply

JUNE 18, 2020

Customer retention is the act of keeping customers engaged, creating customer advocates, and reducing churn before it happens. Imagine you never acquired another customer. Your sales team went home, and all you had left was your current group of customers. That’s where customer retention comes in.

Customer retention 125

Customer retention Feedback Surveys Metrics 125

Fonolo

MARCH 11, 2021

It may be difficult to think of metrics and reporting during times like these, but proper data collection can offer insight into what’s working in your call center and what’s not. How to Overcome Challenges with Your Call Center Metrics. A 5% boost in customer retention can increase profits up to 95%.

Call Center 131

Call Center Metrics Abandon rate Healthcare 131

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

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

Totango

FEBRUARY 9, 2022

An automated renewal approach involves taking steps before renewal, such as checking customer satisfaction metrics to identify customers at risk of churn and proactively reaching out to these customers to develop a remediation plan. Automated procedures also may be set up to reach out to customers who fail to renew.

Customer retention 97

Customer retention SaaS Best practices Upselling 97

ChurnZero

JULY 8, 2022

Oh, by the way, what’s your customer retention?” It was clear that, barring any wildly outlandish figures, customer retention wasn’t a dealbreaker in their decision to invest. Net revenue retention (NRR) is taking center stage as the qualifying metric for determining the health of a SaaS business.

SaaS 98

SaaS Metrics Customer retention Upselling 98

ProProfs Blog

DECEMBER 11, 2020

They even help you understand if your customers are satisfied or not. There are multiple customer satisfaction metrics that your business can use to get answers to questions like “Is my customer satisfied?” or “Are we successful as a brand to create an awesome experience for our customers?”. Let’s get started!

Metrics 148

Metrics Abandon rate Surveys Customer effort 148

ProProfs Blog

APRIL 17, 2020

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. But without numbers or metric data in hand, coming up with any new strategy would only consume your valuable time.

Metrics 142

Metrics Customer retention SaaS Surveys 142

Nicereply

OCTOBER 9, 2023

Customer success metrics are essential to the growth of every SaaS company. With the increasing amount of intuitive software programs providing detailed data analytics to businesses, it’s no wonder that data-driven decision-making is now commonplace across almost all industries. Customer satisfaction score (CSAT) 2.

SaaS 52

SaaS Metrics Customer retention Surveys 52

Totango

MAY 1, 2020

Retaining existing customers is especially important during uncertain economic times, when fewer new customers may be signing on with your service. That’s why customer retention management software is a vital component of your retention strategy. What Are the Benefits of Customer Retention Management Software?

Customer retention 62

Customer retention Management Enterprise Upselling 62

SharpenCX

AUGUST 31, 2021

A lot of data is coming in and out of your contact center platform throughout the busy day. A customized dashboard offers many benefits : Focused insights to improve training and coaching methods Compiled data to improve decision making Transparency to increase agent productivity Clarity around team goals and benchmarks.

Call Center 128

Call Center Metrics Benchmark Contact Center 128

Anexa BPO

NOVEMBER 10, 2023

One of the biggest challenges for public companies is deciding if their shareholders will respond to customer experience (CX) metrics in earning calls. It can be a hard sell to convince executives and shareholders that CX metrics are tangible and impact earning potential. Support your findings with facts.

Metrics 52

Metrics Business Process Outsourcing Benchmark Customer centricity 52

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.

Customer retention 64

Customer retention B2B Enterprise Metrics 64

Totango

MAY 5, 2020

The enterprises that will lead the way during these uncertain times will be those that are data-driven, agile, and empathetic. Customer Retention Strategies in B2B for 2020 and Beyond. Use Key Engagement Metrics to Drive Iteration and Innovation. Ultimately, customers stay because of quality and value.

Customer retention 62

Customer retention B2B Enterprise Customer centricity 62

Global Response

JANUARY 27, 2023

Everyone knows data is important, but which data matters most? Far too many companies blindly track dozens of customer service metrics or KPIs without having a clear pathway to actioning them or understanding which metrics can truly move the needle for their customer satisfaction and bottom line.

Metrics 62

Metrics Abandon rate Customer Service outsourcing 62

Win the Customer

SEPTEMBER 11, 2023

This is where CX metrics for success come into play. The Essence of CX Metrics for Success Defining Success in Customer Experience Before delving into specific metrics, it’s crucial to understand what success means in the realm of customer experience. Essential CX Metrics for Success 1.

Metrics 59

Metrics Customer Experience Customer retention Customer effort 59

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

Nicereply

JANUARY 23, 2023

Measuring your customer experience (CX) can feel complicated. There are so many different CX metrics you could track. Studies show that focusing on creating a great customer experience reduces customer churn, creates l oyal customers , and increases customer engagement.

Metrics 98

Metrics Customer effort Surveys Feedback 98

ChurnZero

FEBRUARY 4, 2022

Customer Success Metrics that Your Investors and Board Care About. Kristen Hayer, Founder and CEO of The Success League , has witnessed this communication friction from both sides through her past experience as a customer success leader and through her current work running a customer success consultancy. Board meetings.

Metrics 98

Metrics Consulting Consulting Best practices 98

Totango

OCTOBER 8, 2020

Customer retention is the continuation of a valued service. In B2B terms, it is still possible to maintain your customer relationship and even improve customer retention during uncertainty, but you will need to focus on five key steps: Understand Your Customer. Listen to Your Voice of Customer Programs.

Customer retention 63

Customer retention B2B Enterprise Best practices 63

delighted

OCTOBER 5, 2021

Outstanding customer service interactions are capable of producing fierce brand loyalty in a short period of time. That’s why it’s important to understand how to measure customer service interactions and the type of metrics that capture experiences and turn them into actionable data. Net Promoter Score (NPS).

Metrics 91

Metrics Customer Service Surveys Journey mapping 91

ChurnZero

SEPTEMBER 16, 2021

9 Customer Retention Strategies for SaaS. Higher retention rates can mean higher customer loyalty for your business, something that’s crucial for success, especially for SaaS. If you want to throw more fire behind your customer retention strategies , keep reading for some tips and tricks to keep them going strong.

Customer retention 52

Customer retention SaaS Education Feedback 52