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

Lumoa

AUGUST 8, 2023

Effectively analyzing survey results can provide numerous benefits, such as enhanced customer satisfaction, increased sales, and improved brand loyalty. So, if you’re ready to transform your customer feedback into a driving force for positive change, dive into this article and learn how to make the most of your customer surveys!

Surveys 78

Surveys Feedback Banking Best practices 78

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

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

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 retention 176

Customer retention Customer Service SaaS Best practices 176

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

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

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

ChurnZero

SEPTEMBER 16, 2021

9 Customer Retention Strategies for SaaS. Higher retention rates can mean higher customer loyalty for your business, something that’s crucial for success, especially for SaaS. If you want to throw more fire behind your customer retention strategies , keep reading for some tips and tricks to keep them going strong.

Customer retention 52

Customer retention SaaS Education Feedback 52

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. Retain Customers for Life.

Customer retention 64

Customer retention B2B Enterprise Metrics 64

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

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

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

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 90

Customer Service Chatbots Surveys Customer retention 90

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 356

Customer Experience Customer Service B2C Self service 356

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

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 180

Customer Service Consulting Consulting Customer Experience 180

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

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 66

Customer Service Chatbots Surveys Customer retention 66

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

Creative Virtual

JULY 22, 2020

As with many other aspects of life and business, customer experience trends and expectations have been greatly impacted by the global health crisis this year. 52% believe customers are more willing than ever to switch brands if unsatisfied. 47% believe it is getting harder to please customers.

Virtual Agent 52

Virtual Agent Self service Surveys Customer centricity 52

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

ShepHyken

JULY 20, 2020

5 Customer Experience Trends Thet COVID-19 Is Only Accelerating by Stephen Fioretti. SmarterCX) The current pandemic is a clear example of a disruption that, in many cases, is accelerating trends that were already happening. My Comment: Is customer service broken?

Customer Service 157

Customer Service Self service Customer retention Surveys 157

Playvox

APRIL 27, 2023

Contact center trends can directly impact success. For the greatest impact and a clear competitive edge, contact center leaders must choose wisely when making business decisions about the trends to prioritize and implement in their organizations — because all change, even positive change, costs time and resources.

Contact Center 52

Contact Center Gamification Agent burnout Employee engagement 52

GetFeedback

JULY 29, 2019

Collecting survey feedback from your customers is easier now than it has ever been before. Survey tools can help you to aggregate valuable information through email, chat, social media, and more. But while collecting survey feedback is simple, the real value is in actioning that feedback. Repeatability.

Surveys 60

Surveys Feedback Education CRM 60

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 176

Customer Service Customer retention Self service Engineering 176

CSM Magazine

OCTOBER 15, 2024

We all know that customer experience (CX) can make or break a business – so for organisations looking to stay ahead of their competitors, consuming the latest trends and insights is crucial. These invaluable insights have been collated from an extensive round of surveys conducted with CX specialists across the UK.

Customer Experience 52

Customer Experience B2C Wait times Customer retention 52