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

DECEMBER 24, 2024

Customer retention is a critical factor in driving long-term financial growth for any business. By focusing on retaining existing customers, companies can build stronger relationships, reduce acquisition costs, and increase lifetime value. Competitive Advantage Customer retention gives businesses a strong competitive edge.

Customer retention 52

Customer retention Construction Advertising Feedback 52

Bill Quiseng

DECEMBER 13, 2021

Real customer loyalty is built on service so great that customers return again and again, raving to others along the way. This week guest blogger Karen Hertzberg offers three QUI strategies to improve your service to keep customers coming back. What’s better than gaining a new customer?

Customer retention 172

Customer retention Customer Service B2C B2B 172

Genroe

JUNE 20, 2024

Discover effective bank customer retention strategies tailored to each stage of the customer life-cycle. Learn how to leverage customer feedback and personalization to keep your banking customers engaged, loyal, and satisfied.

Customer retention 96

Customer retention Banking Feedback Personalization 96

ShepHyken

JULY 26, 2019

This week we feature an article by Charles Richard who shares an article about how important it is for software development companies to have a successful customer experience strategy. We all crave for “more”- entrepreneurs expect more from their employees whereas your coworkers as well customers may expect more from you.

Customer Experience 302

Customer Experience Feedback Customer centricity Customer retention 302

ShepHyken

MAY 24, 2021

Add to that availability and value, and you have a formula for customer loyalty success. 5 Top Customer Strategies CEO Should Know by Duong Nguyen. CustomerThink) Focus on customers’ goals which lead to sales and their referrals. Best Customer Retention Techniques for Startup in 2021 by Luke Fitzpatrick.

Customer Service 407

Customer Service Customer retention Contact Center Sales 407

Callminer

APRIL 30, 2020

The most successful companies have solutions in place for monitoring customer interactions and analyzing customer sentiment. Read on to learn some of the best conflict resolution strategies and ideas that agents can implement on the job: Conflict Resolution Strategies for Customer Service.

Customer Service 273

Customer Service Scripts Construction Feedback 273

ShepHyken

JANUARY 20, 2025

Strengthening Business Partnerships Using the Triple Fit Strategy This episode of Amazing Business Radio with Shep Hyken answers the following questions and more: What is the Triple Fit Strategy? What is the key to building lasting customer relationships?

Customer retention 193

Customer retention Sales Marketing Customer Service 193

Hodusoft

APRIL 24, 2025

Insurance Customer Retention with Contact Center Software For contemporary insurance companies, acquiring more policyholders is not good enough. In such a scenario, customer retention (or retention of policyholders, if you will) is the only recourse. Why Customer Retention is Critical in Insurance?

Contact center software 52

Contact center software Customer retention Contact Center call center software 52

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

ShepHyken

JANUARY 15, 2021

H e shares different strategies to help your business monitor and measure customer satisfaction. Customer experience is crucial for businesses looking to retain existing customers and attract new ones. Measure Customer Satisfaction Using Quantitative Metrics. Keep Track of Customer Retention Figures.

Customer Experience 364

Customer Experience Metrics Customer retention Analytics 364

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

JANUARY 27, 2020

Plenty of ideas on how to create employee satisfaction, employee engagement and the positive impact it has on the company and its customers. Customer Retention Strategies To Explode Your Business In 2020 by Matt Duczeminski. Here are plenty of strategies that will help you grow your business through customer retention.

Customer Service 54

Customer Service Customer retention Airlines Employee engagement 54

ShepHyken

JULY 26, 2021

and hopefully soon, worldwide, it’s important to recognize the lasting impact the last year has had on consumers and how we can use these learnings to inform our business strategy going forward. 15 Ways To Leverage AI In Customer Service by Forbes Business Council. When you get customers to come back, you know you’re doing a good job.

Customer Service 276

Customer Service Customer retention Contact Center Upselling 276

ShepHyken

MAY 18, 2020

Customer Loyalty Is Flat. What Should Your CX Strategy Look Like Now? CMSWire) A fair portion of customer loyalty may have been flattened over this 90-day period of the pandemic for businesses that haven’t been able to function as usual, and that includes a large portion of the business world. by Rachel Lane.

Customer Service 254

Customer Service Customer retention Banking Customer Support 254

ShepHyken

AUGUST 8, 2022

That said, you’ll enjoy this author’s version of how to WOW your customers. 5 Ways to Drive Customer Retention in a Post-pandemic World by Katie Fairchild. Customer retention statistics show that 65% of a company’s business comes from its existing customer base.

Customer Service 62

Customer Service Customer retention Customer Experience Marketing 62

ShepHyken

MARCH 15, 2021

12 Golden Rules for Customer Experience Strategy by Steven van Belleghem. Entrepreneur) Each and every company is, of course, different, but there are some essential ingredients that, if executed well, combine to create a level of service that customers will truly love. My Comment: We all want repeat customers.

Customer Service 271

Customer Service Customer retention Customer Experience Technology 271

TeleDirect

MARCH 14, 2025

5 Strategies for Working with Customers in Different Time Zones Strategies for Working with Customers in Different Time Zones is essential for businesses operating on a global scale. As companies expand internationally, providing seamless customer service across multiple time zones becomes increasingly important.

Multi-channel support 62

Multi-channel support Call Center outsourcing Best practices 62

Nicereply

OCTOBER 16, 2024

However, only 2 in 5 brand executives believe their customer loyalty strategies are successful. 7 Customer Loyalty Strategies to Drive Long-Term Relationships Below, we’ve listed some helpful tips to drive repeat purchases and keep your customers coming back for more. Actually, you can. You won’t regret it.

Education 52

Education Entertainment Feedback Chatbots 52

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 238

Customer Service Customer retention Customer centricity Education 238

ShepHyken

MARCH 27, 2023

Each week, I read many customer service and customer experience articles from various resources. 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?

Customer Service 57

Customer Service B2B Customer retention CRM 57

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. You did this by formal and informal communication strategies. How did this happen? Of course you are.

Journey mapping 188

Journey mapping Customer Experience Education Feedback 188

ShepHyken

DECEMBER 5, 2016

Colin Shaw, the author of “The Intuitive Customer” shares three important trends to consider for your mobile strategy. CMOs Can Take Responsibility For Customer Experience by Staff Writers. 40 Customer Retention Statistics You Need to Know by Chris Boeckelman.

Customer Service 314

Customer Service Customer retention Personalization Customer Experience 314

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

ShepHyken

DECEMBER 9, 2022

The goal of omnichannel engagement is to provide a consistent experience for customers no matter how they choose to reach out. . A study by Aspect Software found that companies that adopt omnichannel strategies achieve 91% greater year-over-year customer retention rates compared to companies that don’t. .

Sales 322

Sales CRM Contact Center Customer retention 322

C3Centricity

AUGUST 1, 2023

Customer retention is essential for the long-term success of any business. We all know that happy customers are more likely to make […] The post The Customer Retention Goldmine: How to Keep Customers Happy and Drive Exponential Growth first appeared on c3centricity.

Customer retention 118

Customer retention Best practices Customer centricity Personalization 118

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. 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

AUGUST 23, 2019

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. There’s one need that is still among us despite constant changes: customers want an integrated shopping experience. Customer retention.

Customer Service 294

Customer Service Customer retention Self service Sales 294

Beyond Philosophy

DECEMBER 8, 2014

One of the several drivers of change for Carter Machinery was the realization their business model is changing as the result of more expansive product lines and an increasingly diverse customer base. The way we did business years ago with a small base of customers was one-on-one, face-to-face, and we knew them intimately.

Employee engagement 355

Employee engagement Customer retention Customer centricity Customer Experience 355

ShepHyken

SEPTEMBER 30, 2019

What is Customer Engagement: Strategy, Examples, and Tips by Brayn Wills. CustomerThink) Actively engaged customers spend more money, participate in branding initiatives, and often become your company’s best brand advocates. How To Boost Customer Retention Effectively Using Video by Koushik Marka.

Customer Service 48

Customer Service Customer retention Metrics Consulting 48

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 ). By deeply understanding consumers and tailoring strategies to meet emerging needs, brands can align more closely with what matters most to their audience.

Banking 116

Banking Feedback Customer retention Marketing 116

ShepHyken

SEPTEMBER 4, 2023

For companies aspiring to enhance their customer service, the hotel industry offers valuable insights and strategies that can be adopted across various sectors. You can’t download a report about digital or technology trends without being assailed with stats and surveys outlining how great CX is key to keeping and gaining customers.

Customer Service 182

Customer Service Customer retention SaaS Best practices 182

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 227

Customer Service Customer retention Marketing Sales 227

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

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 264

Customer Service Customer retention Marketing Customer Experience 264

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. Six Tips To Optimize Your Customer Service For First Touch Resolution by Logan Rush.

Customer Service 365

Customer Service First call resolution Contact Center Best practices 365

ShepHyken

DECEMBER 3, 2018

4 Negotiation Strategies for Managing Difficult Retail Customers by Dean Kaplan. Retail Customer Experience) Difficult customers can cause stress for employees, damage to the bottom line, and thanks to social media, harm to the reputation of your business. There are plenty of strategies and examples to study and consider.

Customer Service 262

Customer Service Airlines Customer retention Customer Experience 262