Totango

FEBRUARY 9, 2022

Contract renewal is the stage in your SaaS customer’s lifecycle where they decide whether or not to extend a subscription that is about to expire. The start of the renewal phase depends on the length of your customer’s contract as well as your policy. Automated procedures also may be set up to reach out to customers who fail to renew.

Customer retention 100

Customer retention SaaS Best practices Upselling 100

Outsource Consultants

FEBRUARY 25, 2025

Through their interactions, they collect valuable information about customer preferences, pain points, and buying behaviors. For example, a call center might identify a common issue with a product’s packaging, leading to improvements that reduce returns and increase customer satisfaction.

Call Center 67

Call Center Sales outsourcing Technical Support 67

ChurnZero

MARCH 14, 2025

Will the customer trust their customer success manager (CSM) if theyre more focused on dollars and cents than building a relationship with them? Will CSMs struggle to maintain a customer-first mindset and spend all their time on upsells, rather than learning about their big picture goals and helping them navigate the path to get there?

Upselling 52

Upselling Sales Customer retention Consulting 52

Totango

MAY 14, 2021

Customer retention is the keystone in any customer success strategy. There are many different types of customer retention metrics that one can track. Which customer retention metrics have the biggest impact on your business? Customer Retention Rate. Revenue Churn Rate.

Customer retention 66

Customer retention Metrics Upselling Best practices 66

ChurnZero

JULY 22, 2021

In this article, we cover the top considerations for identifying that best fit, as well as examples of expansion scenarios for applying the rules. The complexity of your product, your sales process, and your customer’s buying process will likely be the biggest determinants of expansion ownership. Rules of Engagement Scenario Examples.

Sales 98

Sales Upselling Enterprise SaaS 98

Totango

FEBRUARY 10, 2021

A customer success strategy is a proactive plan for guiding your clients to outcomes that satisfy their needs. When your customers enjoy more value, your product adoption rates rise and customer retention rates go up. This promotes success for your company as well as your customers.

Customer retention 90

Customer retention Journey mapping SaaS Benchmark 90

Totango

JULY 11, 2019

Time and money that could have been saved—if you’d focused on customer retention. New customer acquisition costs a lot. To learn how much you’re spending, add up all of your sales and marketing expenses and divide that amount by the number of new customers won. Don’t pay it over and over to drum up one-time customers. .

Customer retention 63

Customer retention Advertising Upselling Feedback 63

Totango

JULY 11, 2019

Time and money that could have been saved—if you’d focused on customer retention. New customer acquisition costs a lot. To learn how much you’re spending, add up all of your sales and marketing expenses and divide that amount by the number of new customers won. Don’t pay it over and over to drum up one-time customers. .

Customer retention 63

Customer retention Advertising Upselling Feedback 63

ShepHyken

MAY 25, 2018

This week we feature an article by Matt Nolan who shares five keys to building more compelling, sustainable customer relationships. Customer retention used to be considered just a “service problem.” – Shep Hyken. based on what best serves the relationship.

Call Center 185

Call Center Customer retention Advertising Upselling 185

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. A lot of upselling and cross-selling opportunities!

Customer retention 75

Customer retention CRM Upselling Sales 75

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

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. What are customers mentioning you’re doing wrong?

Customer retention 52

Customer retention Surveys Feedback Education 52

Totango

APRIL 30, 2021

Comparing the cost of customer retention versus customer acquisition underscores why retaining clients is so important. Here’s how to calculate both kinds of costs and why retention should form part of a profitable business strategy. Calculating the Cost of Customer Acquisition. Professional services and training.

Customer retention 64

Customer retention Advertising Engineering Upselling 64

Totango

MARCH 19, 2021

Today’s SaaS customer journey re-envisions the customer’s experience as a circular flywheel, emphasizing the continuity between pre-sales and post-sales experience and between the way successful customer retention sets the stage for brand advocacy and the recruitment of new prospects.

Best practices 126

Best practices Customer retention Upselling SaaS 126

ChurnZero

MARCH 22, 2019

We also had You Mon Tsang, CEO and Founder of ChurnZero share tried and true ways to improve customer retention. For example, Slack is a great land and expand type strategy. But then over time with Customer Marketing and Customer Success, people love to use Slack and then all of a sudden, it’s expanding.

Customer retention 61

Customer retention Upselling SaaS Customer centricity 61

ChurnZero

JULY 2, 2021

SaaS companies must be cognizant of and weigh the implications brought about by a sole focus on these metrics when assessing the performance of and building strategies for Customer Success. In this article, you’ll learn: Differences between Net Revenue Retention, Gross Revenue Retention, and Customer Retention with definitions and examples.

Customer retention 97

Customer retention Metrics Upselling Chief Customer Officer 97

Totango

APRIL 5, 2022

For example, Totango’s SuccessPlay feature allows you to create automated workflows to follow up on NPS surveys, such as sending an upsell offer or referral invitation to customers who respond with a 9 or 10. The best NPS software lets you: Automatically track customer satisfaction. Why Do You Need NPS Software?

Upselling 108

Upselling Surveys Analytics Customer retention 108

ChurnZero

JUNE 23, 2023

In turn, the swing has rightfully put an increased focus on customer retention. That conjures the question: how do you know if your customer retention rate is good or not? Fortunately, SaaS Capital , which provides debt financing to growth companies, recently published its annual B2B SaaS retention study.

Benchmark 52

Benchmark Customer retention SaaS B2B 52

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

ChurnZero

NOVEMBER 26, 2024

Ensure the title reflects the primary function of the role within your organization, especially regarding customer interaction. For example, “Enterprise Customer Success Manager”. For instance, owning customer retention signifies direct responsibility for renewal rates. Be specific and avoid vague statements.

SaaS 52

SaaS Upselling Enterprise industry standards 52

ChurnZero

MAY 25, 2023

Responsibility for renewals often falls to the Customer Success (CS) team. For example, survey research shows about half (50.2%) of all CS teams surveyed are directly responsible for customer renewals. While renewals are a central aspect of CS work, many Customer Success Managers (CSMs) have a mandate for upsells.

Upselling 97

Upselling Metrics Surveys Accountability 97

CustomerSuccessBox

MAY 25, 2021

Have you ever heard any SaaS founder or VP -CS saying,” I‘m okay with losing a few customers every month?”. That’s because Customer Retention is critical. Customer retention is critical — particularly for B2B SaaS companies. Retaining a customer is way more profitable than acquiring new ones. .

Customer retention 52

Customer retention Metrics Upselling SaaS 52

Totango

SEPTEMBER 24, 2019

Knowing these different stages can be powerful for monitoring, servicing, and motivating customers, but it all needs to come from a unified, consistent brand. There’s no need to indulge a divisive customer retention vs. new customer acquisition dynamic. Customer Retention vs New Customer Acquisition: The Common Goal.

Customer retention 59

Customer retention Sales Enterprise Upselling 59

Lumoa

OCTOBER 20, 2022

Companies that rank the highest in customer experience surveys also have the highest scores for customer retention. This is because happy customers are less likely to churn and more likely to continue doing business with you. Another benefit of excellent customer experiences is improved customer retention.

Customer Experience 114

Customer Experience Banking Customer retention Customer advocacy 114

Totango

APRIL 2, 2019

During the first week after the initial subscription, your goal should be to get customers to use the product at least once. The onboarding stage is critical in terms of customer retention, so make sure your customer understands all the features of your product and the value it provides. Gather Feedback.

Journey mapping 110

Journey mapping Upselling Accountability Feedback 110

JustCall

MAY 14, 2020

But the operation that is facing the most critical hit is – Customer Retention. Customer acquisition has become more difficult than ever. And businesses have shifted their focus towards Retention. But are you still sticking to the old-fashioned customer retention strategies?

Customer retention 52

Customer retention Journey mapping Education Feedback 52

ChurnZero

AUGUST 15, 2024

One of the most effective ways to achieve this is to leverage AI for customer retention by using it to understand customer trends and mitigate churn risks. Now, back to crafting those perfect customer experiences—happy retaining! How to leverage AI for customer retention by identifying actionable trends.

Customer retention 52

Customer retention Management Accountability Analytics 52

JustCall

MAY 14, 2020

But the operation that is facing the most critical hit is – Customer Retention. Customer acquisition has become more difficult than ever. And businesses have shifted their focus towards Retention. But are you still sticking to the old-fashioned customer retention strategies?

Customer retention 52

Customer retention Journey mapping Education Feedback 52

Kayako

MAY 16, 2018

Here are 7 ways that you can use phone calls and live chat to give your customers more immediate gratification and increase your company’s revenue. Calls and live chat increase customer retention and upsell opportunities. Improving customer retention by 5% can increase profits by 95%, according to Bain & Company.

Customer retention 59

Customer retention Upselling Sales Feedback 59

Taylor Reach Group

MARCH 10, 2020

In another example with a similar issue, my experience at Nordstrom was entirely different. This is a much better way to view customer complaints, right? Bain & Company found that there was no correlation between CSAT or NPS and customer retention. I recently had this painful experience with a coveted brand.

Customer Experience 123

Customer Experience Journey mapping Customer retention Chief Customer Officer 123

CustomerSuccessBox

JULY 2, 2020

Plus an opportunity to present the future planning to get a customer’s feedback and sow the seeds for renewal and / or upsell. There are primarily 3 Quarterly Business Review examples. Based on Customer Lifecycle Stage. Technical details can be discussed with the customer’s team during periodic meetings.

SaaS 52

SaaS Upselling B2B Feedback 52

Totango

FEBRUARY 9, 2024

For example, let’s say your MRR at the start of the month was $100,000, your MRR from renewals at the end of the month was $95,000, you lost $2,500 from churn, and you lost another $2,500 from downgrades. What is net retention? Multiply that total by 100 to convert the result to a percentage.

Upselling 115

Upselling Metrics Enterprise Best practices 115

ChurnZero

JULY 14, 2021

Customer Lifetime Value Formula: CLTV = [Average Revenue Per User/Unit (ARPU) x Gross Margin] x Customer Lifetime. Customer Lifetime Value Example: Your average customer pays your business $25,000 a per year (ARPU). Your average customer lifetime is 4.5

Journey mapping 98

Journey mapping Metrics Customer retention Upselling 98

Totango

MAY 6, 2022

What does a high or low customer health score indicate? 75-100 = Doing Well : The customer’s health indicators rank high, indicating satisfaction. You should consider pursuing value-adding engagements, such as offering upsells or inviting referrals. Flagging customers at risk of churn so you can intervene to promote retention.

Best practices 124

Best practices Upselling Metrics Journey mapping 124

TeamSupport

MARCH 3, 2021

Research is a crucial part of customer retention that can help reduce turnover dramatically. With the right online support software , businesses have access to valuable information about where customer relationships faltered and patterns that lead to attrition. Learn more at TeamSuccess.com.

B2B 98

B2B Upselling Customer retention Customer Support 98

Method:CRM

AUGUST 25, 2022

Social media and online customer service forms make contacting your company easier. You must depend on email and your customer call center if you don’t implement them. Lead gen forms are a feature most CRMs offer — making this another example of how CRM increases customer satisfaction. Offer fast customer service.

CRM 52

CRM Chatbots Self service Customer retention 52

ClientSuccess

SEPTEMBER 26, 2019

Beyond the basic financial metrics that most executives consider, look at customer health metrics such as customer engagement and net promoter scores, usage metrics such as product usage and adoption, and the metrics of your customer success team’s performance to determine if you need to take additional action. .

Customer retention 49

Customer retention Metrics SaaS Upselling 49