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How to Calculate and Improve Your Customer Retention Rate

Totango

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.

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Measuring Customer Loyalty: 5 Ways to Track It

Totango

These components, which correlate closely with customer engagement and satisfaction , can be quantified by assigning key performance indicators to them. This makes customer loyalty a metric as well as a concept. Why Is Measuring Customer Loyalty Important? How Do You Measure Customer Loyalty? Current customer referrals.

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Sustainable Business Growth is Achievable with Excellent CX!

Daniel Group

In 2003, Fred Reichheld, a consultant with Bain & Company developed the Net Promoter Score. Over the years, the connection between positive customer experiences and outcomes such as sales growth and customer retention has continually been seen. I followed up with a three-part interview with him.

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5 Reasons Your KPIs Are Hurting Your Customer Experience

Beyond Philosophy

There must be a good ratio of emphasis between internal and transactional goals, like sales and productivity, and the emotional goals, like Customer Satisfaction and Net Promoter scores. Most of the emphasis should be on Customer measures (70%) while less emphasis on the internal measures (30%).

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5 Facts to End the ROI Debate on Customer Experience

Beyond Philosophy

In addition, higher levels of customer satisfaction are tied to high levels of positive cash flows with low volatility, and positive earnings surprises. Keeping Customers results in a high increase in value. Focusing on customer retention with a better Customer Experience will benefit your bottom-line expenses.

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5 Tests to Reveal How Customer Centric Your Channel Strategy Is

Beyond Philosophy

Colin Shaw is the founder and CEO of Beyond Philosophy , one of the world’s first organizations devoted to customer experience. Colin is an international author of four best-selling books and an engaging keynote speaker. Follow Colin Shaw on Twitter @ColinShaw_CX.

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BIG RYG: Key Takeaways

Education Services Group

We were thrilled to sponsor the first annual BIG RYG Customer Success Conference, and have our own Vice President of Customer Success & Operations, Megan Macaluso , included in the list of impressive speakers! (If However, I was most inspired by Pendo’s Product Engagement Score (PES). Inter-Departmental Collaboration.