SharpenCX

NOVEMBER 17, 2021

Long-term customers are more valuable to your company’s growth than you may think. A study from Harvard Business School found that increasing customer retention rates by even 5% can boost your company’s profits by 25-95%. They have growing customer retention despite more competitors on the playing field.

Customer retention 145

Customer retention Personalization Accountability Customer Experience 145

CSM Magazine

NOVEMBER 12, 2024

It’s well-known that keeping an existing customer is far more cost-effective than acquiring a new one. This understanding has pushed customer retention to the forefront in many businesses today. Yet, while companies have embraced new marketing strategies, retention strategies often lag, with many relying on outdated methods.

Customer retention 59

Customer retention Analytics SaaS Metrics 59

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? 15 practical ways customer service teams can improve retention.

Customer retention 117

Customer retention Finance Customer effort Analytics 117

CSM Magazine

JANUARY 24, 2025

It is crucial for all general marketing purposes, including client retention. To explore exactly why and how this works, here are a few of the many ways high-risk payment solutions can improve customer retention for high-risk businesses.

Customer retention 52

Customer retention Personalization Marketing 52

ShepHyken

JANUARY 20, 2025

Businesses should focus on understanding customer’s needs, building trust, and adding value. By doing this, companies can achieve better customer retention and grow together with their clients. Quotes: “In business, your goal should not be just to cut costs or offer products.

Customer retention 183

Customer retention Sales Marketing Customer Service 183

Totango

AUGUST 16, 2022

Customer Retention Software Cuts Down Client Churn. Customer retention software has become essential for effective SaaS customer success strategies. A winning SaaS business model must prioritize retaining customers, which is far more cost-efficient than acquiring new clients to offset churn.

Customer retention 106

Customer retention Upselling CRM SaaS 106

ShepHyken

NOVEMBER 12, 2024

This is about a promotion or bundle that has enough perceived value to pull away existing customers. An example could be the loss leaders some companies use to steal customers away from their competitors. Did they just build a location that’s closer to your customer?

Customer Service 252

Customer Service Customer Experience Customer retention 252

ShepHyken

DECEMBER 5, 2016

My Comment: This excellent article makes the argument that managing the customer’s experience may not always be about exceeding their expectations. The author shares some interesting ideas and uses some excellent examples to make his point. That said, given the opportunity to exceed the customer’s expectations, do it.

Customer Service 313

Customer Service Customer retention Personalization Customer Experience 313

ShepHyken

JANUARY 27, 2020

This article will introduce you to biometrics and how it’s impacting the customer experience. Definition, Factors, Importance, Statistics, and Examples by Chiradeep BasuMallick. (HR Plenty of ideas on how to create employee satisfaction, employee engagement and the positive impact it has on the company and its customers.

Customer Service 52

Customer Service Customer retention Airlines Employee engagement 52

Beyond Philosophy

MARCH 19, 2019

One of the pitfalls of Customer Experience is that once you have added value, it becomes part of the offer and loses its effect. For example, if you are a frequent flyer and you get upgraded to first class on a flight, you recognize that it is a benefit, or added-value of being a frequent flyer. Her reaction? It was a “Whoa!”

Customer centricity 337

Customer centricity Customer retention Consulting Consulting 337

Beyond Philosophy

NOVEMBER 11, 2014

Here are some great examples from different environments of working with natural tendencies to achieve a desired outcome: An American football coach named Tony Dungy propelled one of the worst teams in the NFL to the Super Bowl by focusing on how his players habitually reacted to on-field cues. The Power of Habit.

Marketing 418

Marketing Customer emotions Employee engagement Customer centricity 418

Nicereply

OCTOBER 22, 2024

A feedback survey is a great way to get valuable information about your customers’ preferences while keeping them engaged with your brand. If you’re curious about what is feedback example or how to design an effective survey for your business, read on. This helps build trust and improves customer retention.

Surveys 52

Surveys Feedback Customer retention Construction 52

Beyond Philosophy

DECEMBER 27, 2019

As we embark on a new year and a new decade, it is an excellent time to reflect on what we have learned and what made the most significant impact on us regarding customer retention and loyalty. This year, as in years past, we talked a lot about how the customer’s memory of experience forms.

Customer retention 327

Customer retention Consulting Consulting Customer Experience 327

Nicereply

NOVEMBER 21, 2022

Discover great customer retention tools and empower customer satisfaction. Losing customers is something that every business fears. Considering that the SaaS industry is a competitive one, customer retention is crucial. What is Customer Retention? Why is Customer Retention Critical for SaaS?

Customer retention 98

Customer retention SaaS Upselling Analytics 98

Beyond Philosophy

JANUARY 23, 2015

Your Customers have behaviors that cost your organization money. An excellent example is those Customers that still want a paper statement. If you enjoyed this post, you might be interested in the following blogs: Four Ways to Get Customers to Do What You Want. Read more about the book and register for the webinar, here.

Customer emotions 315

Customer emotions Customer centricity Customer retention Consulting 315

C3Centricity

NOVEMBER 26, 2024

A recent study by McKinsey found that 87% of companies leveraging advanced customer analytics outperform their competitors in customer retention and engagement ( McKinsey ). A leading example of this approach is Monzo , a digital-first bank based in the UK.

Banking 116

Banking Feedback Customer retention Marketing 116

Beyond Philosophy

OCTOBER 6, 2014

We find that the Customer Experience is highly influenced by the following nine orientation areas: Each of these areas has a Customer-centricity level, which may be different from one another. For example, you might have excellent people that are Enlightened, but a Customer Strategy that is Naïve.,

Customer Experience 387

Customer Experience Customer centricity Journey mapping Consulting 387

Beyond Philosophy

FEBRUARY 3, 2015

One example that caught my attention was a 213% increase in conversion when the copy changed from “Get your membership” to “Find your gym & get membership.” There are ten other examples given in the article. Of course, these examples are about the subconscious experience as none of these things make sense. Contentverve.com.

Consulting 304

Consulting Consulting Customer emotions Morale 304

ShepHyken

DECEMBER 9, 2022

They’re based on your brand’s promise, and they’re influenced by customer perceptions of your brand. . Some examples of brand expectations include providing excellent customer service, having a well-designed website, and offering high-quality products or services. Reduced customer churn .

Sales 314

Sales CRM Contact Center Customer retention 314

ShepHyken

OCTOBER 4, 2021

Each week I read many customer service and customer experience articles from various resources. 7 Techniques That Are Key to Customer Retention Today by John Hall. Magazine) It’s a business axiom that holding on to existing customers is more lucrative than acquiring new ones.

Customer Service 254

Customer Service Customer retention Marketing Customer Experience 254

ShepHyken

SEPTEMBER 30, 2019

For example, what happens if you own a small coffee shop and Starbucks decides to move in next door? What is Customer Engagement: Strategy, Examples, and Tips by Brayn Wills. How To Boost Customer Retention Effectively Using Video by Koushik Marka. My Comment: How does small business compete against big business?

Customer Service 46

Customer Service Customer retention Metrics Consulting 46

ShepHyken

MARCH 3, 2019

My Comment: When I talk about friction and customer service, I’m usually referring to convenience. However, the poor design of a product can also create friction, forcing the customer to the inconvenience of getting support. This article has a great example and two suggestions on how to create a friction-free design of your product.

Customer Service 247

Customer Service Customer retention Customer Experience Marketing 247

Beyond Philosophy

OCTOBER 28, 2014

Let me give you an example. Let’s say your IT system requires getting your email address for every customer to access the details of the account. When you ask the customer for this, they might think, “Why do they need this information? Another example might be an automated call response system that greets incoming calls.

Customer Experience 300

Customer Experience Customer centricity Scripts Customer emotions 300

ShepHyken

AUGUST 10, 2020

How to Increase Customer Loyalty: 5 Customer Retention Strategies by Christopher Hutchens. SmartBug) In this blog, we look at five customer retention strategies that you can implement to deliver more value to your customers and increase customer loyalty.

Customer Service 235

Customer Service Customer retention Customer centricity Education 235

ShepHyken

FEBRUARY 3, 2025

Retaining existing customers is significantly more cost-effective than acquiring new ones. Loyal customers who have had positive experiences are more likely to make repeat purchases, spend more over time, and recommend a brand to others. Quotes: “Customer service begins before the sale.

Marketing 198

Marketing Customer Experience Sales Customer Service 198

ShepHyken

OCTOBER 8, 2018

Each week I read a number of customer service and customer experience articles from various resources. 10 Examples Of Amazing Customer Service Departments For Customer Service Week by Blake Morgan. My Comment: Here’s a great line: “Every customer interaction impacts customer retention.”

Customer Service 224

Customer Service Customer retention Call Center Metrics 224

Beyond Philosophy

FEBRUARY 24, 2015

Restaurants are adept at getting their customers to relax and enjoy their dinners. Here are a few examples: They set the mood right at the start. So what does this mean to my Customer Experience? In both of these examples of restaurants and casinos, there is great care and planning that goes into the experience for the guests.

Customer centricity 305

Customer centricity Customer retention Consulting Consulting 305

TeleDirect

JANUARY 7, 2025

Whether its a technical glitch, a healthcare crisis, or a travel disruption, having round-the-clock support ensures that your customers are never left stranded. Boosting Customer Retention Consistent, reliable customer service builds trust and loyalty. Provide personalized assistance to enhance the customer experience.

Call Center 125

Call Center Abandon rate Average Handle Time Healthcare 125

Beyond Philosophy

MARCH 31, 2015

And, beyond design and comfort, relationship-building and being trusted advisors to their customers is mostly about culture. The post At A Fork In the Road: As a Customer Relationship Driver, Where Is Branch Banking Headed? Blogs Customer Retention' That’s where Umpqua excels. appeared first on Beyond Philosophy.

Banking 310

Banking Airlines Self service Finance 310

ShepHyken

DECEMBER 3, 2018

On a recent flight, the author of this article met “Captain Adams,” who not only flew the plane but set the culture, empowered the crew and was the perfect example of a leader focused on the customer experience. Here are four reminders of what to do with that angry and upset customer. by Manish Nepal .

Customer Service 261

Customer Service Airlines Customer retention Customer Experience 261

TechSee

MARCH 7, 2022

A Gartner survey of service leaders found that investing in new and existing customer-facing channels and leveraging AI to enhance customer experience and operational excellence are top priorities for 2022. These are recognized as important aspects of customer service strategy, customer engagement, and business growth.

Self service 109

Self service Virtual Agent Customer centricity Chatbots 109

TeleDirect

DECEMBER 25, 2024

Improved Customer Satisfaction When customers receive timely and effective assistance, their satisfaction increases. Example: Imagine a customer facing a technical issue with your product late at night. Global Reach For businesses with international customers, operating across different time zones can be challenging.

Call Center 127

Call Center Customer Experience Technical Support Healthcare 127

Outsource Consultants

MARCH 20, 2025

Between its bilingual talent, cultural compatibility, and smart pricing, Mexico call centers are becoming the go-to solution for brands serious about keeping customers closeand competitors at bay. Lets break down why Mexico customer retention solutions are gaining traction and how theyre quietly helping brands build lasting customer loyalty.

Customer retention 67

Customer retention outsourcing Call Center Bilingual agents 67

Cincom

JANUARY 30, 2025

These data allow businesses to tailor their communication strategy in the right direction to ensure that they are exceeding customer expectations. 1- Plots Customer Journey for Timely Engagement Understanding your customer is the foundation of any communication and retention strategy.

Customer retention 40

Customer retention Customer Experience Analytics Feedback 40

ShepHyken

MARCH 13, 2017

This article is focused on social media customer service – responding to customers’ posts on social media channels like Twitter and Facebook. The example in this article will make you laugh. A great example of how you can have fun with your customers and “humanize” your customer service.

Customer Service 230

Customer Service Best practices Customer retention Customer Support 230

Beyond Philosophy

OCTOBER 2, 2017

This is a classic example of companies blaming other people for their own failure to focus on what customers want. This happens when executives and managers blame poor customer retention on marketing or an ill-trained sales staff. Blaming Others is Not a Winning Strategy.

Customer centricity 332

Customer centricity Consulting Consulting Customer emotions 332