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

Beyond Philosophy

SEPTEMBER 15, 2015

For those of you that don’t know, Net Promoter Score (NPS) represents the likelihood a Customer would recommend your product or service to other people (i.e., It has become a standard metric used to determine if your Customer Service and Experience improvements are effective. We are a society of people who just want it simple.

Banking 383

Banking Telecommunications Consulting Consulting 383

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

DECEMBER 11, 2020

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?” or “Are we successful as a brand to create an awesome experience for our customers?”. Let’s get started!

Metrics 148

Metrics Abandon rate Surveys Customer effort 148

Hello Customer

JANUARY 16, 2020

January typically is a month to forecast trends, and we believe customer retention will be an important one. But we see increasingly more organisations move their focus from aggressive acquisition investments to retention management. Customer retention or acquisition? Show your customers you truly care.

Customer retention 92

Customer retention Feedback Customer Care Metrics 92

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.

Customer retention 95

Customer retention Sales Marketing Scripts 95

Fonolo

MARCH 16, 2021

Still getting to grips with call center metrics and which ones are the most important? What is First Call Resolution (FCR) in Call Center Metrics? First Call Resolution is a measure of how frequently you can resolve a customer’s query the first time they reach out. First Call Resolution improves customer retention.

First call resolution 125

First call resolution Call Center Metrics Contact Center 125

Pointillist

JUNE 15, 2018

Much of the marketing world is still focused on customer acquisition, but to improve customer retention will yield f ar better ROI and cost about 5-25X less than customer acquisition. What is Customer Retention? Why Customer Retention Matters. My Customer Retention ?

Customer retention 110

Customer retention Analytics Airlines SaaS 110

Totango

MARCH 5, 2021

Customer retention is the lifeblood of any savvy enterprise. It’s the only way to be successful in this customer-centered economy and ensure scalable long-term revenue. To retain customers, companies must make the customer experience better and ensure customers never stop seeing value from their product or service.

Customer retention 92

Customer retention Upselling Enterprise Benchmark 92

Integrity Solutions

APRIL 28, 2021

What actions can you take to both increase employee engagement and create a customer retention strategy that moves more of your customers from “satisfied” to “loyal”? One of the key tenets of a customer retention strategy is that it relentlessly focuses on value creation. A 5-step roadmap to get you started.

Customer retention 86

Customer retention Employee engagement Customer centricity Metrics 86

Nicereply

MARCH 28, 2022

There’s no better time to do a little spring cleaning on your metrics. Why do a customer service metrics health check? The problem with metrics and statistics is that they are only as reliable and valuable as the data used to create them. If you don’t know where the data is coming from, you can’t trust your metrics.

Metrics 98

Metrics Customer Service Customer effort Surveys 98

TeleDirect

MARCH 9, 2025

In this blog, we will explore the best practices to improve customer service speed, optimize workflows, and leverage technology-driven solutions to enhance call center operations. Why Reducing Wait Times is Critical for Customer Satisfaction 1. Studies show that 60% of customers will abandon a brand after multiple bad experiences.

Wait times 79

Wait times Call Center Abandon rate First call resolution 79

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

DECEMBER 11, 2024

From Automation to Personalization: How AI is Shaping the Future of CX Would you be surprised to know that one out of every two customers would switch brands following just one bad customer experience (CX)? They must do whatever it takes to ensure they deliver exceptional CX to their customers. It surely can.

Personalization 52

Personalization Contact center software Metrics Customer retention 52

Education Services Group

NOVEMBER 21, 2022

I’m talking about the 2022 Customer Success Leadership Study (much more exciting, IMHO). For the third year in a row, we’re tracking all the twists and turns unfolding in the Customer Success industry. This aligns well with the results from this year’s study. There’s a reason NRR is the undisputed king of CS metrics.

Metrics 98

Metrics Benchmark CRM Technology 98

Beyond Philosophy

DECEMBER 23, 2015

They are; Customer Experience and Value Optimization. Studies by Strativity, and other consulting organizations, among corporate executives have identified the financial benefits of increasing customer experience management-related resources.

Chief Customer Officer 250

Chief Customer Officer Enterprise Customer centricity Consulting 250

Totango

APRIL 9, 2019

Customer retention is the lifeblood of any savvy enterprise. It’s the only way to be successful in this customer-centered economy and ensure scalable long-term revenue. To retain customers, companies must make the customer experience better and ensure customers never stop seeing value from their product or service.

Customer retention 76

Customer retention Upselling Enterprise Metrics 76

Beyond Philosophy

JULY 12, 2016

Namely, the connection between satisfaction and behavior, whether by customers or employees, has been challenged and largely refuted in study upon study. Customer Loyalty on the other hand has two definitions. What’s true for customer attitudes relative to behavior can also be applied to employees.

Employee engagement 170

Employee engagement Consulting Consulting Metrics 170

Totango

DECEMBER 10, 2019

When you make customer retention for B2B business models a priority, you’ll not only save money on acquisition costs; you’ll also unlock the growth potential of your existing customer base. Let’s explore why customer retention for B2B is so important and how you can make it happen. What about existing customers?

Customer retention 65

Customer retention B2B Enterprise Metrics 65

Nicereply

JANUARY 23, 2023

Measuring your customer experience (CX) can feel complicated. There are so many different CX metrics you could track. Studies show that focusing on creating a great customer experience reduces customer churn, creates l oyal customers , and increases customer engagement.

Metrics 98

Metrics Customer effort Surveys Feedback 98

Cincom

JANUARY 30, 2025

In this tech-driven era, keeping customers interested in the business is a full-time job. One of the recent studies revealed that on average, 65% of a companys revenue is from approximately 8% of their most loyal consumers and repeat customers.

Customer retention 40

Customer retention Customer Experience Analytics Feedback 40

GetFeedback

AUGUST 14, 2019

Measuring just a piece of this journey can seem short-sighted or not as powerful as other CX metrics, like Net Promoter Score (NPS). But I see a place for Customer Satisfaction Score (CSAT), based on organizational goals, resources, and structure. CX shouldn’t ever be measured by one metric alone.

Metrics 109

Metrics Journey mapping Surveys Coaching 109

Amity

OCTOBER 23, 2018

Tracking the proper metrics is essential in understanding how your business is performing. For now let’s concentrate on the following four main metrics. Customer Health. It typically involves interviewing customers and looking at your NPS scores and strategy. Net Promoter Score (NPS). Net Promoter Score.

Metrics 76

Metrics Best practices Customer retention SaaS 76

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

Tenfold - Contact Center Blog

JULY 9, 2018

It begins with setting metrics. The right metrics or key performance indicators (KPIs) should effectively measure a business’s specific capacities. Here’s a list of the most crucial metrics that inbound call center must measure. Simply put, it’s getting it right the first time and reducing customer effort.

Metrics 78

Metrics Call Center Schedule adherence Abandon Call 78

delighted

MAY 4, 2021

When you talk about measuring customer experience and satisfaction, three metrics inevitably come up as THE ones to use: Customer Satisfaction Score (CSAT) vs Net Promoter Score (NPS) vs Customer Effort Score (CES). Let’s take a look at two types of studies and why you would want to use them.

Metrics 77

Metrics Surveys Feedback Benchmark 77

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. How to Analyze Current Retention Rates?

Customer retention 52

Customer retention Call Center call center software Interactive Voice Response 52

Beyond Philosophy

AUGUST 30, 2016

When Customer Retention, my first book on customer behavior was published, now over 20 years ago, one of the strongest reactions voiced was my contention, and the proof offered, that satisfaction and retention were fundamentally different concepts, and that they required different measurement protocols.

B2C 150

B2C B2B Customer advocacy Consulting 150

ProProfs Blog

MARCH 27, 2020

According to a study by Forbes, 84% of companies that work to improve their customer experience, witness a significant increase in their revenue. It is as clear as day that good customer effort scores translate to increased customer repurchase and customer retention rates. Bolster Customer Retention.

Customer effort 117

Customer effort Customer retention Surveys Metrics 117

CustomerSuccessBox

MARCH 25, 2022

Then while considering customer acquisition cost (CAC) why miss out on customer retention cost (CRC)? They both are of equal significance and when the matter is to retain your loyal customers to have repeat business with you, this metric needs a bit of attention as well. About customer retention cost.

Customer retention 52

Customer retention Metrics Sales SaaS 52

Beyond Philosophy

JUNE 1, 2015

Through partnership, Sainsbury’s offers customers a broader and deeper value proposition; and Nectar also generates data from coalition partners which it uses to better target promotions to customers. Solve Customer and Industry Pain Points. Michael Lowenstein, Ph.D., CMC, is Thought Leadership Principal for Beyond Philosophy.

Airlines 210

Airlines Entertainment Consulting Consulting 210

aircall

JUNE 30, 2021

Many look to the company for ways to improve customer retention. Email: Ring’s Secret to Improve Customer Retention. For one thing, it sends new customers emails to share tips on properly setting up the product. However, Ring is not the only company to reap the rewards of its stellar customer retention strategies.

Customer retention 62

Customer retention Customer advocacy Brand ambassadors Wait times 62

ClientSuccess

JUNE 19, 2019

Adding credibility to this statement is a research study by Invesp Consulting which suggests: Existing customers are 50% more likely to try new products and spend 31% more than new users! Increasing customer retention by 5% can increase profits by 25-95%. It will surely get your brain and bank account working overtime.

Customer retention 73

Customer retention B2C Entertainment Consulting 73

Pointillist

NOVEMBER 11, 2019

By Stephanie Ventura Metrics tracking is a vital element of every call center. However, aiming to track all possible call center metrics can lead to information overload. Instead, organizations must focus on metrics that yield the greatest insight. In fact, global research reveals that customers do want first call resolution.

First call resolution 74

First call resolution Call Center Metrics Benchmark 74

ProProfs Blog

SEPTEMBER 9, 2020

Why Is There A Buzz Around Customer Loyalty? Loyalty programs work because they are like a shortcut to customer retention which is a game changer for many businesses. Many studies have shown that investing in your brand advocates will yield more revenue in the long-run. Benefits of A Customer Loyalty Program.

Gamification 144

Gamification Customer retention Metrics Sales 144

ChurnZero

MARCH 14, 2025

These adages have been around for years now, so it really should come as no surprise that as customer success teams have shifted away from customer satisfaction and towards driving growth, more and more CS teams are rolling up to the CRO (chief revenue officer). 5: How do you capture the value that customer success brings to sales?

Upselling 52

Upselling Sales Customer retention Consulting 52

Hodusoft

NOVEMBER 27, 2024

.” Or, to paraphrase noted author Michael LeBoeuf’s quote for contemporary businesses, a loyal customer is the best business strategy of all! So, without further ado let’s dive right into the blog post and understand why customer loyalty is the Holy Grail to business success. But wait, there is more to it!

Best practices 52

Best practices Contact center software Contact Center Advertising 52