Totango

OCTOBER 2, 2020

Equipped with the knowledge provided by customer data, you can help your customer survive tough times by offering practical solutions that add value and ultimately contribute to customer retention during economic downturns — even ones caused by a pandemic. Customer Retention Is Your Future.

Customer retention 118

Customer retention Enterprise Best practices Metrics 118

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

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. Source: Intuit.

Customer retention 95

Customer retention Sales Marketing Scripts 95

Beyond Philosophy

OCTOBER 2, 2017

Executives say the site overlooks nuances in reviews, and they don’t like its definition of who qualifies as a critic. This happens when executives and managers blame poor customer retention on marketing or an ill-trained sales staff. And it happens in everyday customer interactions.

Customer centricity 332

Customer centricity Consulting Consulting Customer emotions 332

ShepHyken

AUGUST 29, 2022

(Atlanta Small Business Network) The biggest marketing cost most small businesses face is that of acquiring new customers. Few business owners, however, pay anywhere near as much attention to customer retention, even though keeping an existing customer for longer is a far easier way to grow revenue.

Customer Service 168

Customer Service Customer retention Morale Advertising 168

ShepHyken

JUNE 14, 2021

Our recent study/survey confirmed that to customers, this is “very important” or “important” to their decision to come back to a business. Personalization may not quite be table stakes for a good customer experience, but it’s a definite differentiator. This article looks at some reason why with some technical “how to.”

Customer Service 259

Customer Service Customer retention Personalization Surveys 259

Beyond Philosophy

DECEMBER 31, 2019

When you take on Customer Experience, you have to think about your business differently than you have in the past. The definition of madness is doing the same things and expecting different results. The number two thing was customer retention. However, retention is essential, too.

Customer Experience 382

Customer Experience Consulting Consulting Chatbots 382

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. Matching purpose with outcomes.”

Construction 235

Construction Customer Service Feedback Customer retention 235

ShepHyken

OCTOBER 4, 2019

It is the definitive business growth predictor. Why do I need to engage my customers? 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. A. Encourages Repeat Business. This is, indeed, a smart financial move.

Benchmark 311

Benchmark Customer retention Feedback Consulting 311

ShepHyken

NOVEMBER 5, 2019

Create an experience that focuses on retaining customers and building loyalty—and that experience is the result of not just what we say, but what we do. There are two different definitions of customer experience, and they are two sides of the same coin. What is the definition of customer experience?

Marketing 42

Marketing Customer Experience Customer Service Technology 42

ShepHyken

AUGUST 14, 2023

When you create content that answers your customers’ questions, you’re also (potentially) creating an SEO-optimized piece of content that could bring you new customers. It is essential to the success of a business because it demonstrates the organization’s ability to cultivate strong customer relationships and customer loyalty.

Customer Service 31

Customer Service Customer retention Engineering Chatbots 31

ChurnZero

MAY 3, 2019

If you want your business to be successful in the long run, it pays to give priority to customer retention. Landing a customer who will pay for life is like hitting the jackpot. After all, it takes five times more effort to land a new customer than to retain an old one. Invest in Customer Service. Upcoming Webinar.

Customer retention 75

Customer retention CRM Upselling Sales 75

Beyond Philosophy

OCTOBER 21, 2014

Most of us can agree that these four steps will definitely move your people into a culture that promotes putting Customers at the center of everything you do. Putting Your People to Work on Customer Centricity. In addition, they have regular access to social media and can contribute to its content.

Customer centricity 230

Customer centricity Customer emotions Customer retention Customer Experience 230

ShepHyken

FEBRUARY 13, 2023

This is where the customer finds out if their expectations meet reality or exceed them, or the stage where they find out that they are not getting what they thought they paid for. This is why a great onboarding experience is critical to customer retention. Customers know the difference.

Customer retention 156

Customer retention Sales Customer Service Marketing 156

Callminer

FEBRUARY 4, 2021

More effectively identifying and managing customer vulnerability isn’t just a benefit for consumers, companies that can successfully support vulnerable customers deliver better customer service and improve customer retention and loyalty. Consumers will eventually worry more about the quality you offer them.

Call Center 345

Call Center Contact Center Finance Consulting 345

Nicereply

OCTOBER 11, 2024

Customer satisfaction matters because it drives customer retention, fosters brand loyalty, and generates positive word-of-mouth. Customer retention When customers are happy with your products or services, they’re more likely to continue using them. PS: Need help collecting valuable customer feedback?

Customer retention 52

Customer retention Surveys Feedback Education 52

ClientSuccess

JANUARY 25, 2021

For most customer success departments, the internal department you work closest with and most often is definitely sales. Webinar: How We Became a Customer-Obsessed Company. Webinar: Top 6 Trends in Customer Success.

Customer retention 81

Customer retention Marketing SaaS Accountability 81

ShepHyken

APRIL 17, 2017

My Comment: There is a difference between a customer loyalty program and a customer retention program. A repeat customer may not be a loyal customer. The goal of saving a defecting customer isn’t about making them loyal. Do not confuse the two.

Airlines 198

Airlines Customer Service Customer retention Customer Care 198

Beyond Philosophy

JULY 12, 2016

Here’s a summary which encapsulates the difference between satisfaction and loyalty as metrics, expressed by Susan Wyse of Snap Surveys in a June, 2012 post: “Customer Satisfaction is a measurement of customer attitudes regarding products, services, and brands. Customer Loyalty on the other hand has two definitions.

Employee engagement 170

Employee engagement Consulting Consulting Metrics 170

ShepHyken

FEBRUARY 18, 2024

This article starts with a definition that I can live with but is not quite how I would define it. For me, customer service is more than support. It’s the interactions customers have with employees – all employees. While subscription models play a role, a crucial strategy involves identifying customer interests.

Customer Service 172

Customer Service Gamification Customer retention Customer Experience 172

Fonolo

MAY 16, 2019

It’s no surprise: on the surface, the two departments and their goals seem distinct from one another: Marketing is all about customer acquisition (or, attracting new customers), while customer service is all about customer retention. So, how exactly does custom service feed into marketing?

Marketing 124

Marketing Customer Service Advertising Customer retention 124

ShepHyken

AUGUST 13, 2018

(Business2Community) Customer Success is typically defined as, “ensuring customers achieve their desired outcomes while using your product or service.” If you’re relying on this explicit definition to drive retention and expansion then you’re missing a better opportunity.

Customer Service 180

Customer Service B2C B2B Customer retention 180

JivoChat

MARCH 28, 2023

Considered one of the most popular messaging apps in the world, WhatsApp offers several tools that you can enjoy to develop effective marketing strategies to straighten your relationship with your customers, increase customer retention rate, turn leads into clients, raise brand awareness, and build credibility.

Marketing 75

Marketing Accountability Sales Personalization 75

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

OCTOBER 13, 2017

After those dozens of doomsday opinion posts, we’re now seeing that offline retail is definitely not dead. It’s all just a part of consumer demand, and customers still demand the in-store experience. That’s important because customer-centricity continues to be the driving force behind sales, and true customer loyalty.

Customer centricity 193

Customer centricity Customer retention Technology Personalization 193

ShepHyken

JANUARY 28, 2024

These companies “achieve 37% more effective new logo acquisition, 23% more effective account penetration, 22% more effective customer retention, and 13% higher earnings before interest, taxes, depreciation, and amortization (EBITDA) margins.” My Comment: Here’s an excellent article about bad customer service.

Customer Service 186

Customer Service Consulting Consulting Customer Experience 186

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 186

Customer Service Contact Center Customer centricity Banking 186

ShepHyken

JANUARY 31, 2020

Score says that 91% of your clients will leave your company for an alternative brand if they experience bad customer service. The Four Generations of Clients.

Customer Service 223

Customer Service Entertainment Marketing Customer Support 223

Nicereply

NOVEMBER 27, 2023

A company’s ability to understand and optimize customer satisfaction directly impacts customer retention, advocacy, and ultimately, profitability. As a customer experience professional, you’re at the forefront of this battle for consumer loyalty and satisfaction. What is a CSAT (Customer Satisfaction Score)?

Metrics 59

Metrics Surveys Analytics Feedback 59

Beyond Philosophy

SEPTEMBER 8, 2022

Discovering this definition required talking to the team. Patterson and her team spoke with the customer service teams, customers, and sales teams. They found that there were many moments where the organization interacted with the customer throughout the journey. Rule #2: Measure.

Customer Experience 243

Customer Experience Consulting Consulting Customer retention 243

Lumoa

SEPTEMBER 11, 2023

Customer effort score (CES), CSAT, and NPS are examples of metrics applicable in either case. But since customer experience has a more broader outlook than customer service, additional data like repeat sales figures and customer retention rate are also taken into consideration.

Customer Experience 78

Customer Experience Airlines Metrics Feedback 78

Beyond Philosophy

OCTOBER 21, 2014

Most of us can agree that these four steps will definitely move your people into a culture that promotes putting Customers at the center of everything you do. Putting Your People to Work on Customer Centricity. In addition, they have regular access to social media and can contribute to its content.

Customer centricity 170

Customer centricity Customer emotions Customer retention Customer Experience 170

Beyond Philosophy

NOVEMBER 12, 2020

On a recent podcast about these 5 rules, I shared a recent digital experience that was definitely on the “could use some work” side of the spectrum. No matter where you fall on that spectrum, we have some essential considerations for designing your digital experience in the form of 5 rules.

Chatbots 405

Chatbots Consulting Consulting Government 405

Lumoa

SEPTEMBER 11, 2023

Customer effort score (CES), CSAT, and NPS are examples of metrics applicable in either case. But since customer experience has a more broader outlook than customer service, additional data like repeat sales figures and customer retention rate are also taken into consideration.

Customer Experience 78

Customer Experience Airlines Metrics Feedback 78

ShepHyken

JANUARY 31, 2020

Score says that 91% of your clients will leave your company for an alternative brand if they experience bad customer service. The Four Generations of Clients.

Customer Service 206

Customer Service Entertainment Marketing Customer Support 206

Beyond Philosophy

APRIL 14, 2022

However, here are some of the stats that stood out to me most: 73% of business leaders reported a direct link between customer service and business performance. 64% of business leaders say that customer service has a positive impact on the company’s growth . 60% say customer service improves customer retention .

Contact Center 195

Contact Center Upselling Education Engineering 195

ShepHyken

NOVEMBER 27, 2023

My Comment: This is a branding article, but consider one of the definitions of a brand, which I’ve latched onto. The AI Customer Service Blueprint by Magical (Magical) The easiest way to think about integrating AI customer support tools and apps into your business is to think of it like building a house. It’s what you do.

Customer Service 189

Customer Service Morale Customer retention Marketing 189