Interaction Metrics

MARCH 27, 2025

What Is Customer Retention and Why Does It Matter? Customer retention might sound like fancy business jargon, but really, it’s just the art of keeping your customers happy enough that they stick around. Thats customer retention at workusing incentives and positive experiences to keep you coming back.

Customer retention 62

Customer retention Metrics Surveys Advertising 62

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%. Your customers do your marketing for you, spreading good words about your product and service.

Customer retention 145

Customer retention Personalization Accountability Customer Experience 145

ShepHyken

JANUARY 20, 2025

When price is the only differentiator, a competitor with a lower price can quickly take your customers away. 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.

Customer retention 185

Customer retention Sales Marketing Customer Service 185

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 Yet, while companies have embraced new marketing strategies, retention strategies often lag, with many relying on outdated methods.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

The Petrova Experience

JANUARY 14, 2025

Its 2025, and businesses across sectors have a customer retention problem. companies alone lose an estimated $168 billion annually due to customer attrition, as revealed in a CallMiner whitepaper. In every sector and among diverse markets. Like hospitality, retail faces significant challenges to keeping their customers.

Customer retention 40

Customer retention Feedback B2C Metrics 40

Beyond Philosophy

NOVEMBER 6, 2014

Blogs Customer Experience CEM CEO Conferences consultants consumer behaviour customer Customer Analysis customer behavior Customer Behaviour customer centricity customer emotions customer engagement Customer experience customer experience books customer experience industry customer experience management Customer Experience Program customer experiences (..)

Customer centricity 409

Customer centricity Customer emotions Employee engagement Customer retention 409

ShepHyken

AUGUST 8, 2022

The WOW Factor: How to Deliver an Amazing Customer Experience Every Time by Benny Marotta. CEOWORLD Magazine) Creating a positive customer experience is key to keeping your target market coming back, whether you’re operating a digital business or a brick-and-mortar storefront. My Comment: In short, this video is “hot.”

Customer Service 61

Customer Service Customer retention Customer Experience Marketing 61

Beyond Philosophy

OCTOBER 6, 2014

Blogs Beyond Philosophy CEO Colin Shaw Customer Behaviour customer centricity customer emotions Customer experience customer experience books customer experience management Customer Experience Program Customer Loyalty Customer Management Customer Mirrors customer research customer retention customer satisfaction CX Carnival Market Research Marketing (..)

Customer Experience 387

Customer Experience Customer centricity Journey mapping Consulting 387

ShepHyken

DECEMBER 5, 2016

That said, given the opportunity to exceed the customer’s expectations, do it. Customer Loyalty Still Requires A Personal Touch by Richard D’Ambrosio. My Comment: It is said that customer service and customer experience (CX) are the new ways to market to the customer.

Customer Service 313

Customer Service Customer retention Personalization Customer Experience 313

ShepHyken

MARCH 27, 2023

3 Digital Marketing Strategies That Can Improve Customer Retention by John Hall (Forbes) What happens if you gain 10 new customers but lose 20 from your existing client base? The net result clearly isn’t positive, and if the trend continues, your company’s market share will shrink.

Customer Service 57

Customer Service B2B Customer retention CRM 57

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

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. My mum always told me, “You can catch more flies with honey than you can vinegar.” In other words, people respond better to rewards than punishments.

Customer emotions 315

Customer emotions Customer centricity Customer retention Consulting 315

ShepHyken

JANUARY 27, 2020

My Comment: Joseph Michelli has written an excellent article about how to leverage trends in the customer experience world. Consider this: “Today’s consumers expect easy, valuable experiences that marketers in 2010 could scarcely imagine.” Biometrics – A new normal for customer experience by Sarah Amundsson.

Customer Service 53

Customer Service Customer retention Airlines Employee engagement 53

Beyond Philosophy

JULY 14, 2015

This method is not the way to set up a relationship that is open and honest with your current and future customers. 2: Your Customer retention plan includes penalties or fines if they want to end the relationship. RICOH Canada had a vision: to be the most trusted brand with irresistible appeal in their market.

Customer centricity 366

Customer centricity Customer retention Marketing Customer Experience 366

C3Centricity

NOVEMBER 26, 2024

It’s a transformational shift essential to gaining a lasting competitive edge in today’s market. A recent study by McKinsey found that 87% of companies leveraging advanced customer analytics outperform their competitors in customer retention and engagement ( McKinsey ).

Banking 116

Banking Feedback Customer retention Marketing 116

ShepHyken

FEBRUARY 3, 2025

This episode of Amazing Business Radio with Shep Hyken answers the following questions and more: What Disney customer experience principles can be applied to enhance customer service in other industries? How can businesses create an emotional connection with customers? Quotes: “Customer service begins before the sale.

Marketing 201

Marketing Customer Experience Sales Customer Service 201

ShepHyken

SEPTEMBER 15, 2023

This week, we feature an article by Maria Fintanidou, a copywriter for Moosend , an email marketing automation software. She writes about using email marketing to improve customer service and experience throughout the entire customer journey. It’s all about your email marketing revolving around your subscribers’ needs.

Marketing 161

Marketing Customer Experience Entertainment Customer centricity 161

ShepHyken

JANUARY 15, 2021

Send out surveys for customers to fill in and offer plenty of opportunities for them to provide feedback – both good and bad. Monitor online review scores and comments, and send in mystery shoppers to get the inside scoop on how the customer journey really works. Keep Track of Customer Retention Figures.

Customer Experience 353

Customer Experience Metrics Customer retention Analytics 353

ShepHyken

APRIL 26, 2021

One of the main points is that customer service is becoming the face of a brand. Once you adopt that mindset, you’ll see how some of the best marketing, customer retention, and more come from your customer service and support. Top Customer Experience Resources to Follow in 2021 by MK Marketing.

Customer Service 354

Customer Service First call resolution Contact Center Best practices 354

ShepHyken

DECEMBER 9, 2022

This week, we feature an article by Nick Bandy, Chief Marketing Officer at LiveVox , an omnichannel platform that helps brands seamlessly communicate with their customers. He shares how you can align your customer’s journey with their brand expectations. The customer journey is essential to any company’s success.

Sales 315

Sales CRM Contact Center Customer retention 315

ShepHyken

FEBRUARY 10, 2020

The author gives us a little history and some current insights into what we need to do in the digital age of customer service. 10 Marketing Lessons from Apple [Infographic] by The Website Group. The Website Group) Read on for a list of 10 marketing techniques that Apple has used to build one of the most well-known brands in the world!

Customer Service 214

Customer Service B2B Customer retention B2C 214

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 257

Customer Service Customer retention Marketing Customer Experience 257

Beyond Philosophy

FEBRUARY 10, 2020

Nearly 20 years ago, when I started Beyond Philosophy and before Customer Experience was a well-known concept, my motivations were to create a competitive differentiator that would get more business for my clients. New Sales Growth: This area includes increases in sales, market share, or new customer acquisition.

Consulting 430

Consulting Consulting Telecommunications Entertainment 430

Beyond Philosophy

DECEMBER 6, 2018

However, success in this area requires that the mindset of the organization needs to change from customer acquisition to customer retention. consumers will spend up to 17% more with companies that provide excellent customer service. The post 8 Key Stats to Prove Customer Experience Delivers ROI appeared first on.

Customer Experience 410

Customer Experience Benchmark Customer retention Personalization 410

ProProfs Blog

OCTOBER 30, 2021

The identification of what customers want is important and based on different factors, marketers need to divide people into market segments. That’s exactly what market segmentation is all about! With the help of certain shared factors, a wide population can be put into subgroups for targeted marketing.

Marketing 142

Marketing B2B Advertising B2C 142

Beyond Philosophy

NOVEMBER 18, 2014

Today we are looking at Channels, one of the nine parts of your current experience that contributes to Customer centricity of your organization. How Can You Tell How Customer Centric Your Marketing Channel Strategy is? How is your organization oriented: around the Customer or your product?

Customer centricity 322

Customer centricity Customer emotions Customer retention Consulting 322

ShepHyken

AUGUST 23, 2019

This new way of shopping has led companies to offer multiple contact channels as a means for survival in today’s market. It’s very important to respond to your customers’ needs through different channels, but it’s useless if you don’t have a strategy to coordinate and organize those interactions. Customer retention.

Customer Service 288

Customer Service Customer retention Self service Sales 288

Beyond Philosophy

JUNE 28, 2019

Responding can lead to many excellent outcomes, including an improved experience for your customer, the better impact for your marketing campaigns, and more emotional engagement with your customers—the foundational element of customer retention and loyalty.

Customer emotions 304

Customer emotions Customer retention Consulting Consulting 304

ShepHyken

SEPTEMBER 30, 2019

This article shares a number of tips on how all business – especially B2B’s – can take advantage of this powerful marketing and CX strategy. How To Boost Customer Retention Effectively Using Video by Koushik Marka. My Comment: If you’re not using video to enhance your customer’s experience, you’re missing a great opportunity.

Customer Service 47

Customer Service Customer retention Metrics Consulting 47

Beyond Philosophy

DECEMBER 20, 2019

It is reasonable to expect for the time, energy, and resources to show a return on investment, whether in customer loyalty, customer retention, or even just cold hard cash. On this episode of The Intuitive Customer, I further explain my answer and share my predictions about the fate of Customer Experience.

Coaching 317

Coaching Customer retention Consulting Consulting 317

ShepHyken

MAY 17, 2021

How to Nurture Your Online Customers And Turn Them Into ‘Brand Evangelists” by Peggy de Lange. (B&T) B&T) Building a connection with existing customers is just as integral to any marketing strategy as winning new ones, but how do we turn customers into spokespeople for our brands?

Customer Service 216

Customer Service Customer retention Marketing Sales 216

Beyond Philosophy

DECEMBER 27, 2019

How they behave and why are fascinating topics and one that has much influence on our Customer Experience outcomes. 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.

Customer retention 327

Customer retention Consulting Consulting Customer Experience 327

Beyond Philosophy

MARCH 19, 2019

Bell recommends pilot programs to serve as evidence that providing innovative customer service works to increase customer retention and loyalty for your senior management team. Define customer loyalty for your organization. A common mistake is thinking that customer retention is loyalty.

Customer centricity 337

Customer centricity Customer retention Consulting Consulting 337

ShepHyken

APRIL 5, 2019

These virtual customer experience tools are transforming the way that companies interact with their customers in the contact center environment. When used correctly, chatbots have the power to enhance marketing, sales, customer retention and more. Irina Kirnos is a Product Marketing Manager at RingCentral in EMEA.

Chatbots 301

Chatbots Customer Experience Cloud contact Contact Center 301

Beyond Philosophy

OCTOBER 4, 2019

They embarked on a Customer Experience Journey that they are still on today—and with great success. Furthermore, in a declining market, they enjoyed a ten percent increase in sales. This episode of The Intuitive Customer is the story of how RICOH Canada did it. Fred Reichheld and Satmetrix Systems, Inc.

Consulting 54

Consulting Consulting Customer retention Customer Experience 54

VirtualPBX

JULY 18, 2024

Hear from guest blogger, Co-founder and CEO of Onilab, Art Malcovich, on what SMS marketing can do for your e-commerce. E-commerce businesses connect with their customers through multiple channels: emails, social media, live chats, and chatbots. SMS marketing is another valuable tool for reaching potential buyers.

Marketing 106

Marketing Customer retention SaaS Sales 106

Beyond Philosophy

FEBRUARY 3, 2015

Surely the manager of the aforementioned market won’t leave you facing umpteen brands of shaving foam to muddle through on your own. Some markets even use scents to get us to notice different foods in the store. They don’t. Engaging the subconscious shopper is a skill supermarkets are always perfecting.

Consulting 304

Consulting Consulting Customer emotions Morale 304