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 Yet, while companies have embraced new marketing strategies, retention strategies often lag, with many relying on outdated methods.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. The financial implication of customer churn is staggering, with little end in sight, if unaddressed.

Customer retention 40

Customer retention Feedback B2C Metrics 40

ShepHyken

SEPTEMBER 30, 2019

NPS, CES, CSAT: Which One is the Best Metric? GetFeedback) NPS, CES, and CSAT are customer loyalty metrics. They’re used to measure the level of loyalty that a customer has toward your brand. Customers are considered loyal when they consistently purchase from your brand over an extended period of time.

Customer Service 46

Customer Service Customer retention Metrics Consulting 46

Lumoa

NOVEMBER 8, 2018

You can easily see that NPS is the most common CX metric: almost two thirds of companies follow it. The churn or retention rate are usually used to understand the connection between the customer experience management and its monetary value. Since 2003, when the metric was first introduced, NPS has been gaining popularity.

Metrics 162

Metrics Customer Experience Benchmark Surveys 162

Beyond Philosophy

MARCH 19, 2019

Chip Bell is a world-renowned authority on innovative service and customer loyalty consulting. Bell also helps many Fortune 100 companies implement innovative customer-centric strategies. High-level management love metrics. Define customer loyalty for your organization. What Do We Mean by Innovative Service?

Customer centricity 337

Customer centricity Customer retention Consulting Consulting 337

360Connext

JANUARY 5, 2022

Your company has surpassed its annual goals for customer retention, referrals, and satisfaction. C-level leadership is thrilled, and the customer experience program you helped develop was instrumental to this success. Article] Use SMIRC Goals to Define Customer Experience Outcomes. How did this happen?

Journey mapping 188

Journey mapping Customer Experience Education Feedback 188

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

ProProfs Blog

DECEMBER 11, 2020

They are the unshakable foundation on which you build concrete strategies to help your business achieve profitable goals. 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?”

Metrics 148

Metrics Abandon rate Surveys Customer effort 148

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 Customer effort Analytics 117

Interaction Metrics

FEBRUARY 20, 2025

Instead of improving the customer experience, they end up frustrating customers even more. At Interaction Metrics, we take a smarter approach. We use scientific rigor, real listening, and reciprocity to design surveys that truly measure and enhance customer satisfaction. Thats where Interaction Metrics comes in!

Surveys 62

Surveys Benchmark Feedback Metrics 62

ShepHyken

OCTOBER 8, 2018

Customer Retention Metrics Part 2: How to Keep Loyal Customers Happy and Optimize Post-Purchase Measurements b y Alan Finlay. Relay) Improving customer retention requires looking at the customer lifecycle as a whole and searching for ways to optimize each stage.

Customer Service 224

Customer Service Customer retention Call Center Metrics 224

Totango

JUNE 30, 2020

Communication during a crisis is about protecting your core asset, your customers. The digital transformation of business has shifted enterprise focus toward customer retention and the pursuit of long-term value. Challenges such as the ongoing COVID-19 pandemic only reinforce the importance of keeping the customers you have.

Best practices 127

Best practices Customer retention Metrics Enterprise 127

TeleDirect

MARCH 20, 2025

With customers increasingly expecting fast, efficient, and personalized support, call centers must adopt best practices and innovative strategies to meet these demands. Focus on First-Call Resolution (FCR) First-call resolution is one of the most important metrics for measuring call center performance.

Call Center 62

Call Center Multi-channel support Customer Service First call resolution 62

SharpenCX

AUGUST 31, 2021

How you customize your dashboard depends on the outcome you’re looking for. Your agents are concerned with their individual metrics and the day-to-day goals. How do our customers feel? Use the following list of metrics and key performance indicators (KPIs) as a guide for which metrics to show your executive team.

Call Center 128

Call Center Metrics Benchmark Contact Center 128

Calabrio

MARCH 22, 2025

Best Practices Contact Center Management: Best Practices & Strategies for Peak Performance Share The modern contact center is no longer seen as a mere service function at the periphery of the business. Great customer experiences now come with a massive price premium and bad ones drive even the most loyal consumers away in a hurry.

Best practices 52

Best practices Contact Center Management Call Center 52

ProProfs Blog

DECEMBER 21, 2020

Stable customer base results in higher referrals, improved upsell revenue and increased lifetime value (LTV) which further results in improved customer acquisition in future. Needless to say, customer retention is the core value for the growth of any business. Reasons why customer churn rate increases.

Surveys 148

Surveys Benchmark Feedback Sales 148

TeleDirect

MARCH 9, 2025

How to Reduce Wait Times and Improve Customer Satisfaction in Call Centers How to Reduce Wait Times and Improve Customer Satisfaction in Call Centers is a critical focus for businesses aiming to enhance customer experience and boost operational efficiency. Why Reducing Wait Times is Critical for Customer Satisfaction 1.

Wait times 79

Wait times Call Center Abandon rate First call resolution 79

Totango

FEBRUARY 9, 2022

Other factors include the customer’s financial situation, their perception of the value they derive from their subscription, how easy it is for them to renew their subscription and whether they’re considering any competing products. One strategy for increasing your contract renewal rate is effective automation of the renewal process.

Customer retention 100

Customer retention SaaS Best practices Upselling 100

TeleDirect

MARCH 14, 2025

By implementing best practices, businesses can improve their first-call resolution (FCR), reduce wait times, and enhance overall customer engagement. Why Call Centers Play a Vital Role in CX Call centers act as the frontline of customer service , handling inquiries, complaints, and support requests. Customer satisfaction scores (CSAT).

Best practices 62

Best practices Call Center Multi-channel support First call resolution 62

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

Hodusoft

JUNE 8, 2022

Top Call Center Metrics and KPIs to Every Business Should Track. Running a call center is stressful as there are hundreds, if not thousands, of calls that you have to manage every day while ensuring to deliver outstanding customer service. But how do you decide what metrics are to measure? . Customer Retention Rate.

Call Center 98

Call Center Metrics Abandon rate call center software 98

Cincom

JANUARY 30, 2025

This tech isnt just about managing and tracking dataits about actually using that data to understand your customer base so that you can deliver a personalized experience, making them feel valuedbecause happy customers stick around longer, which means more repeat business. What is customer experience management?

Customer retention 40

Customer retention Customer Experience Analytics Feedback 40

CSM Magazine

FEBRUARY 6, 2025

Heres why a customer service roadmap is a necessity: Improved Team Alignment: A roadmap ensures your team understands shared objectives and works toward common goals. Customer Retention: Clear strategies lead to improved experiences, encouraging repeat customers. Gather feedback from both customers and your team.

Customer Service 83

Customer Service Journey mapping Wait times Self service 83

ShepHyken

MAY 25, 2020

How to calculate your customer retention rate by Bryce Baer. Rather, consider it a key metric to guide and improve customer retention strategy and retention rate. I was glad to see this article, which includes the formula to measure customer retention. Zendesk) Churn happens.

Customer Service 156

Customer Service Customer retention Contact Center Marketing 156

CCNG

JUNE 14, 2023

Businesses that excel in creating strong connections with their customers often enjoy higher levels of customer loyalty and increased revenue. Understanding Emotional Connection Emotional connection refers to the bond that customers form with a brand based on their feelings and emotions.

Customer Experience 195

Customer Experience Airlines CCNG Chief Customer Officer 195

Outsource Consultants

MARCH 18, 2025

The outsourced team was handling 70% of all incoming tickets, freeing the in-house staff to focus on complex issues and proactive customer success outreach. 24/7 Service on a Budget: An e-commerce retailer wanted to offer round-the-clock customer service but found it prohibitively expensive to staff night shifts in-house.

Call Center 67

Call Center outsourcing First call resolution Average Handle Time 67

Hodusoft

JULY 24, 2024

Effective Strategies for Enhancing Customer Retention in Call Centers “When the customer comes first, the customer will last.” In a time of growing competition and dwindling customer loyalty, businesses need to focus on customer retention more than ever before. Read on and thank us later.

Customer retention 52

Customer retention Call Center call center software Interactive Voice Response 52

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

BlueOcean

MARCH 11, 2025

Success lies in the details of implementation and a deep understanding of what drives customer intimacy. Measuring the Success of Conversation Intelligence When measuring the success of conversation intelligence programs, one of the most crucial distinctions is separating soft skills metrics from customer experience metrics.

Customer Experience 62

Customer Experience Calibration Average Handle Time Metrics 62

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. Why are customer service metrics important?

Metrics 91

Metrics Customer Service Surveys Journey mapping 91

CSM Magazine

JANUARY 21, 2025

Personalized Customer Service In an age where consumers are bombarded with generic marketing messages, personalized customer service stands out as a key differentiator. Personalization can significantly enhance customer satisfaction and loyalty by making customers feel valued and understood.

Customer Service 52

Customer Service Customer retention Metrics Surveys 52

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. DesignerShedsAU. Chris Laan is the Founder of Designer Sheds. Ben Reynolds.

Call Center 345

Call Center Contact Center Finance Consulting 345

Calabrio

MARCH 25, 2025

This article delves into how to evaluate call center agent performance effectively, outlining key call center agent metrics and exploring innovative new techniquesas well as too-often-overlooked onesto elevate your team’s success. This means, first, they must be able to track the right agent performance metrics.

Call Center 52

Call Center Metrics Abandon rate Coaching 52

ChurnZero

DECEMBER 17, 2021

Customer acquisition and customer retention are cornerstones of building and maintaining revenue, but customer expansion — and a robust customer expansion strategy — can also be pillars of success. What is a Customer Expansion Strategy ? Why is Customer Expansion Important for SaaS Businesses?

Management 98

Management Upselling SaaS Education 98

C3Centricity

AUGUST 17, 2020

Denyse Drummond-Dunn · What a customer first strategy means today. But with people having changed their purchasing habits and perspectives due to lockdown, this seems the perfect time to reconsider your customer-first strategy. A customer-first strategy is not so hard. Customers 2020 Report.

Customer centricity 118

Customer centricity Airlines Big data Marketing 118

customer sure

DECEMBER 21, 2024

What Is Customer Retention? Customer retention is the practice of keeping your customers loyal and engaged over the long term. Why Customer Retention Is Important If customer acquisition feels expensive, it is. Gather Key Metrics: S = Customers at the start of the period.

Customer retention 62

Customer retention B2B Feedback Metrics 62

Totango

MAY 7, 2024

Strategy #1: Use a RACI matrix to assign ownership At Totango + Catalyst, we’ve found that using a responsibility assignment matrix (also known as the RACI matrix) has been a great way to get our CS and Sales teams on the same page. Strategy #2: Align on customer outcomes Both teams should be laser-focused on customer results.

Sales 103

Sales Upselling Metrics Accountability 103