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

Quiq

MARCH 31, 2022

Marketing and sales consistently combine their efforts to attain the most customers at the lowest price. But few businesses dedicate as many resources to customer retention. Keeping customers happy and continuing to buy from your e-commerce business deserves (and often requires) as many resources.

Customer retention 77

Customer retention Metrics Personalization Benchmark 77

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 88

Customer retention Upselling Enterprise Benchmark 88

ShepHyken

SEPTEMBER 4, 2023

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. Finally, he presents the concept of “customer Service as an Experience.” 7 Small-Business Strategies for Customer Retention by Kalin Kassabov (Inc.

Customer Service 169

Customer Service Customer retention SaaS Best practices 169

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

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 65

Customer retention Metrics Upselling Best practices 65

Totango

JANUARY 26, 2021

Read on to learn what churn is, how an attrition analysis can help you pinpoint why you’re losing customers, and what steps you can take to prevent customer churn. What Is Churn Rate and How Does It Relate to Customer Retention? These are just a few examples of issues which can contribute to customer churn.

Customer retention 91

Customer retention Sales Marketing Big data 91

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.

Customer retention 64

Customer retention Advertising Engineering Upselling 64

SharpenCX

JUNE 8, 2021

If your team can’t retain customers and establish long-term relationships that last, your entire company suffers the losses. According to research out of Bain & Company , increasing your customer retention rate by just 5% can increase profits anywhere from 25 to 95%. Customer acquisition on the other hand is costly.

Customer retention 76

Customer retention Coaching Employee engagement Contact Center 76

Anexa BPO

JANUARY 27, 2023

Customer Satisfaction Score (CSAT) Customer satisfaction score (CSAT) measures how satisfied customers are with the service they receive. This metric is usually measured through surveys or feedback forms that customers complete after interacting with customer service. Reach out to Anexa today.

Average Handle Time 52

Average Handle Time Customer retention Metrics outsourcing 52

CSM Magazine

DECEMBER 13, 2023

Such strategies are crucial as they guide a business on how to consistently deliver exceptional service, leading to customer retention, increased sales, and a strong, reputable brand image. This includes not only providing excellent service but also anticipating customer needs and going above and beyond to exceed their expectations.

Customer Service 52

Customer Service Self service Airlines Chatbots 52

Nicereply

NOVEMBER 21, 2023

NPS = (% of responses who are promoters) – (% of responses who are detractors) For example, if you received 100 responses back from a recent NPS survey question, where 40 of them responded as Promoters, 30 were Passives and 30 were Detractors, then your NPS calculation would be 40 minus 30, for a score of 10.

Surveys 59

Surveys B2B Feedback Education 59

JustCall

OCTOBER 17, 2023

This is why real-time feedback is critical for a brand that practices active listening and customer empathy. If your company is not using automated survey tools to understand customer sentiments, you may be missing out on crucial insights that can improve and elevate your brand.

Surveys 52

Surveys Feedback Metrics Construction 52

CustomerSuccessBox

AUGUST 10, 2021

Any changes in the market, like trends and customer usage, may also require revisiting the customer health score. Conversely, survey results have revealed that 26% never update their customer health score algorithm. Who Is Using a Customer Health Score? Increased Customer Retention.

Customer advocacy 52

Customer advocacy Customer retention Benchmark Surveys 52

ChurnZero

MAY 2, 2024

The 2024 B2B SaaS Benchmarking Survey by SaaS Capital is the most comprehensive and up-to-date source of its kind for SaaS and customer success leaders who want to know where they stand compared to peers and competitors. In turn, this necessitates more focus on customer retention strategies for long-term business sustainability.

SaaS 52

SaaS Benchmark B2B Surveys 52

JivoChat

JULY 20, 2021

People have a lot of options these days, so if you don’t have good customer retention strategies , your business won’t be as stable or profitable. It costs five times as much to win a new customer as it does to retain an existing one. In this post, we’ll reveal why you should start focusing on customer retention and when.

Customer retention 52

Customer retention Gamification Education Self service 52

Comm100

NOVEMBER 29, 2021

All of these pandemic repercussions will continue to reverberate across customer service teams and drive the major trends in the year to come, and likely far beyond. In this blog, we’ll look at the top customer service trends to expect in 2022 so you can build a team of customer experience excellence.

Customer Service 88

Customer Service Chatbots Surveys Customer retention 88

ShepHyken

JANUARY 4, 2023

Last month I released my annual Top Ten Customer Experience Predictions in my weekly Forbes column. I don’t often repeat content, but I’m going to share those predictions and trends here, in a revised and shorter format. Eighty-one percent of consumers we surveyed said a great customer experience increases trust. .

Customer Experience 342

Customer Experience Customer Service B2C Self service 342

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 87

Customer retention Journey mapping SaaS Benchmark 87

ProProfs Blog

DECEMBER 25, 2018

There is nothing more effective than a customer survey when it comes to knowing if your customers are satisfied with your products and services. It gives your customers a chance to voice their concerns and praise or criticize the offerings that they’re dealing with. Creating a Valuable Customer Survey.

Surveys 95

Surveys Abandon rate Customer centricity Customer Support 95

CSM Practice

MAY 13, 2020

CSM Practice conducted a weekly survey to observe potential improvements with how the crisis impacted SaaS companies and customer success management teams. We have compiled the results of our 4-week survey. We generated an overall analysis of the pandemic effects on Customer Success from around the globe.

SaaS 83

SaaS Surveys Upselling Customer retention 83

ShepHyken

JANUARY 28, 2024

These companies “achieve 37% more effective new logo acquisition, 23% more effective account penetration, 22% more effective customer retention, and 13% higher earnings before interest, taxes, depreciation, and amortization (EBITDA) margins.” ” Understanding what customers want and expect is ever-changing. CX doesn’t cost.

Customer Service 168

Customer Service Consulting Consulting Customer Experience 168

ProProfs Blog

DECEMBER 6, 2019

Studies have shown that nearly 75% of companies are perceived positively by the customers because of this reason. Evolution of Customer Feedback. Customer feedback is not a new trend. The first-ever customer service feedback was given by a customer named Nanni way back in 1750 BC.

Feedback 124

Feedback Surveys Sales Benchmark 124

ShepHyken

AUGUST 6, 2023

Customer Retention Statistics – the Ultimate Collection for Small Business by Matt Mansfield (Small Business Trends) Customer is strategic efforts a business makes to keep existing customers engaged and loyal over time. Using AI the right way will enhance the relationship versus frustrate the customer.

Customer Service 156

Customer Service B2C Customer retention Government 156

Comm100

NOVEMBER 29, 2021

All of these pandemic repercussions will continue to reverberate across customer service teams and drive the major trends in the year to come, and likely far beyond. In this blog, we’ll look at the top customer service trends to expect in 2022 so you can build a team of customer experience excellence.

Customer Service 65

Customer Service Chatbots Surveys Customer retention 65

Global Speech Networks

JANUARY 11, 2022

But getting them to share those thoughts isn’t necessarily easy — which is why Voice of the Customer (VoC) software offers built-in solutions for understanding and improving participation rates. Why are survey participation rates important? A few key obstacles that could discourage direct feedback may include: Survey timing.

Surveys 52

Surveys Feedback Employee engagement Customer retention 52

Playvox

NOVEMBER 2, 2021

But given the level of uncertainty experienced in the last 18 months – ever-changing pandemic guidance, more workers voluntarily resigning from jobs, many of us still working remotely – what impact will this have on customer behavior and buying habits as we close out 2021? This shopping trend likely exacerbated shortages.

Contact Center 73

Contact Center Sales Customer retention Customer Service 73

ShepHyken

MARCH 21, 2022

15 Stats About Post-Covid Customer Service by Blake Morgan. Forbes) As the pandemic starts to subside and the dust starts to settle, companies can move from survival mode to preparing for the future and adjusting to changes and trends in the post-Covid world. Chief on that list is updating customer service efforts.

Customer Service 169

Customer Service Customer retention Self service Engineering 169

CSM Magazine

NOVEMBER 11, 2020

The 2021 Customer Support Trends Report shows how the COVID-19 pandemic is impacting support leaders’ annual plans and identifies conversational support as a key strategic area of investment in 2021. The report is based on a survey of nearly 600 customer support leaders from B2B and B2C organizations.

Customer Support 52

Customer Support B2C Chatbots B2B 52

ShepHyken

SEPTEMBER 7, 2020

Each week I read a number of customer service and customer experience articles from various resources. Winning means losing in the game of customer retention by Linda O’Grady. CMO) All too often retention is a blanket goal. ‘We Here are my top five picks from last week.

Construction 230

Construction Customer Service Feedback Customer retention 230

ShepHyken

OCTOBER 29, 2023

Why Experiential Rewards Are Winning Over Customers: 5 Stellar Examples by Peter Vogel (The Wise Marketer) In today’s highly competitive business environment, brands are constantly searching for innovative ways to engage and retain their customers. My Comment: There’s a lot to this article about customer retention and loyalty.

Customer Service 164

Customer Service Marketing Customer retention Customer Experience 164

Totango

OCTOBER 12, 2022

Naturally, short-notice or no-penalty cancellations also greatly increase the risk of customer churn. Combined with intense competition and sign-up discounts, not to mention global inflation prompting many consumers to rethink their budgets, the customer retention stakes are high. .

Enterprise 113

Enterprise Surveys Sales Customer retention 113

CSM Magazine

JUNE 18, 2024

A recent report released by Forrester has revealed that the quality of customer experience in the United States has experienced a significant drop, marking the third consecutive year of decline. This alarming trend was established based on a comprehensive survey that involved over 98,000 US customers across a variety of industries.

Customer Service 52

Customer Service Customer centricity Customer retention Surveys 52

Quadient

OCTOBER 1, 2021

The State of CX: A series on customer experience trends and beyond - empathy's key role. The evolution from customer communications to the more comprehensive approach of customer experience management represents the sea change in how businesses view their approach to customer growth and retention.

Customer Experience 52

Customer Experience Journey mapping Enterprise Customer centricity 52

Beyond Philosophy

AUGUST 10, 2016

In other words, the Customer Experience matters here more than it did even a couple of years ago. A new global survey released by Amdocs last month reported a trend in the region where consumers demanded more control and personalization in their Customer Experiences with their Telecom provider. Are you ready?

Wireless 265

Wireless Self service Surveys Consulting 265

TechSee

MAY 19, 2021

Companies have invested in their customer service function to differentiate and personalize their brand and improve overall operational efficiency. COVID-19 has resulted in a further increase in demand for service, with a January 2021 survey indicating that 65% of U.S. consumers required assistance during the pandemic.

Technology 159

Technology Customer Service Technical Support Analytics 159

PeopleMetrics

FEBRUARY 21, 2023

Picture this: your customer experience (CX) team has gone through your customers’ feedback, identified regular pain points in the customer journey, and found solutions to reduce friction and retain more customers. However, they did this several months ago and suddenly customer retention is starting to dip down again.

Customer Experience 117

Customer Experience Journey mapping Surveys Banking 117