InMoment XI

FEBRUARY 2, 2024

In the rapidly changing consumer market, the highest customer-rated Integrated CX company, InMoment, took a bold and proactive approach. Studies have shown that companies that engage with customer feedback can see up to a 5-10% increase in customer retention rates.

Hospitality 260

Hospitality Call Center Retail NPS 260

InMoment XI

MAY 10, 2022

Many studies show that repeat customers are likely to purchase more frequently, spend more money, and pay a premium for a product. In addition to generating more income from their own purchases, loyal customers are more likely to refer new customers to the brand, furthering the cycle of customer retention.

Retail 493

Retail Net Promoter Score Loyalty Programs Effort Score 493

InMoment XI

APRIL 5, 2022

Through our dedicated Strategic Insights Team, we collected data from bank, wealth advisor, and credit union consumers and employees across North America. For Customers: Most banking customers responded with “tap-&-go or digital wallet” (Apple or Samsung).

Banking 295

Banking Trends Customer Experience Self Service 295

InMoment XI

APRIL 3, 2024

And for as long as there have been customers, businesses have had to prioritize creating a positive customer experience. The customer experience—how buyers feel about their collective interactions with a brand—defines and motivates customer action. It sets the tone for the entire company/consumer relationship.

Customer Expectations 260

Customer Expectations Meeting Customer Experience Touchpoint 260

Storyminers

JULY 29, 2016

In today’s competitive marketplace, consumers have an increasing amount of choices- and they aren’t afraid to try them. There always seems to be a new product, service, or experience within reach of a brand’s current customer. And as we all know, replacing an existing customer costs 7 times more than retaining them.

B2C 124

B2C Customer Retention Strategy Brands 124

ProProfs Chat

FEBRUARY 22, 2019

A Forrester report highlights increasing customer retention by 5% can increase profits by up to 95%. Loyal customers spend about 30% more with brands than new customers. An investment to increase retention by 5% is surely a worthy business investment. Simple formula: Customer Retention = Engagement + Investment.

Customer Retention 82

Customer Retention Engagement Strategy Rewards Programs 82

InMoment XI

SEPTEMBER 12, 2023

Market Position and Brand Analysis: How do consumers perceive your competitors? The Importance of CRM Databases in Competitive Analysis Customer Relationship Management (CRM) databases are essential tools for storing and tracking customer information, interactions, and sales history.

Analysis 260

Analysis Marketing Competitive Advantage Analytics 260

BlueOcean

OCTOBER 4, 2023

We would wager, that even with the evolution of AI, brands serving consumers in the Americas will continue to benefit from providing support in French, Spanish, and, for some organizations, Portuguese through a live agent model. The impact of bilingual support on the customer experience cannot be understated. It’s our thing.

Contact Center 310

Contact Center Customer Care Average Handle Time Consumers 310

C3Centricity

JANUARY 30, 2024

They recalled and replaced the faulty devices, prioritizing customer safety and satisfaction. Customers expect you to put things right. They don’t expect more than that in most cases. This transparent and rapid response helped mitigate the impact on their brand reputation.

Feedback 226

Feedback Customers Customer Retention Examples 226

ReviewTrackers

MARCH 22, 2019

Customer retention in the insurance industry is important to reducing churn, which prevents billions of dollars lost in revenue. What’s worse than losing billions in revenue is the amount that insurers have to pay to acquire new customers. Reduce Customer Retention by Offering More than Insurance.

Insurance 50

Insurance Customer Retention Industry How To 50

Experience Investigators by 360Connext

APRIL 23, 2024

The landscape of consumer expectations is constantly evolving, and understanding the value of customer experience has emerged as a cornerstone for businesses aiming to sustain growth and maintain a competitive advantage. And they will be rewarded for that focus on the customer!

ROI 260

ROI CEM Net Promoter Score Customer Experience 260

ReviewTrackers

JUNE 22, 2018

There’s always going to be another option for the consumer. Fortunately, social media allows you a direct way to strengthen connections with your fans and repair your reputation with customers who may have had a less than stellar experience. Reviews are in fact social media because they form a conversation between brands and consumers.

Social Media 56

Social Media Customer Retention Consumers Retail 56

ShepHyken

MAY 13, 2024

8 Keys to Making Customer Service a More Positive Experience by Martin Zwilling (Inc. Magazine) With the advent of the internet, social media, and instant communication via texting, customer expectations for service, as part of their entire customer experience, have changed. What Is Churn Rate?

Customer Service 73

Customer Service Loyalty Programs Customer Retention Metrics 73

ShepHyken

DECEMBER 9, 2022

We explore these questions and offer some tips on how to improve your customer journey. . What do customers expect from contact centers? . In order to provide an excellent customer experience, it’s important that your customer journey is aligned with customer expectations. The takeaway?

Customer Journeys 123

Customer Journeys Brands Sales Contact Center 123

Lumoa

NOVEMBER 17, 2022

Companies should aim to meet their customers’ expectations by continuing to fine-tune their customer experience (CX) programs. Here are the CX trends you can expect to see in 2023 and how to keep your e-commerce business on track with the evolution of CX. Customer Experience in E-commerce Trend Predictions for 2023.

e-support 208

e-support Customer Experience Social Media Chatbots 208

Lumoa

JUNE 14, 2023

Zendesk’s research found that an overwhelming majority of consumers (nearly three out of five ) stated that quality customer service is paramount in cultivating brand loyalty. Meanwhile, 50% of consumers will likely switch to a rival after just one bad support experience. And you’re not alone in feeling that way.

NPS 208

NPS Effort Score Customer Centricity Loyalty 208

Kustomer

AUGUST 5, 2020

Just because your company offers around-the-clock customer service doesn’t necessarily mean you’re offering great service to your customers. Just consider these consumer insights from PwC: 3 in 4 customers identify customer experience as a top consideration in their purchasing decisions. Active Listening Skills.

Customer Expectations 52

Customer Expectations Customer Service Omni-Channel Customers 52

GetFeedback

DECEMBER 21, 2018

Learn about the top two customer surveys for predicting and increasing customer retention. Anytime a customer cuts ties, you experience the negative impact of customer churn. Here are 40 customer retention statistics that reinforce the growing need for customer experience management.

Customer Retention 390

Customer Retention Net Promoter Score Poor Customer Service B2B 390

ijgolding

FEBRUARY 3, 2015

We are living in a world where consumer expectation is changing as rapidly as ever before. All around the world, this change in consumer expectation […]. New technology is enabling people to do what they want, when they want to do it, wherever they happen to be.

Hotels 120

Hotels Case Study Study Travel 120

ShepHyken

JANUARY 4, 2023

Customers Will Be Smarter and More Demanding Than Ever – I may sound like a broken record as I start each year with this prediction. Regardless of the type of business you’re in (B2B, B2C, B2B2C), everyone is a consumer. Just as we want our customers to come back, we want our employees to stay.  .

Self Service 137

Self Service Customer Experience Customer Service B2C 137

GetFeedback

JUNE 11, 2019

Deloitte’s study integrated data from 800 consumers, a 12-person online panel, and analyzed 91 million social media posts as well as 2,090 completed Voice of the Customer surveys. It’s tempting to think that if you can relate to a customer on an emotional level, your work is done. Sustaining these connections goes both ways.

Study 170

Study Loyalty Connections Loyalty Programs 170

Kustomer

FEBRUARY 15, 2022

Today I’m pleased to announce our mission to reimagine customer service for consumers has become even stronger — we are officially part of Meta! Direct-to-consumer (DTC) businesses and digital-first brands are thriving. Direct-to-consumer (DTC) businesses and digital-first brands are thriving. A World of Change.

Customer Service 111

Customer Service Healthcare Customer Retention Retail 111

Lumoa

AUGUST 23, 2021

New ways of interacting with customers A recent study from CMO found that 84% of companies were using social media for brand building and more than 54% have used it for customer retention. However, customers say that most companies fall short when it comes to meeting their expectations.

Customer Experience 236

Customer Experience Social Media Video Customers 236

ShepHyken

JANUARY 3, 2024

Employee retention is just as necessary as customer retention. TAKE ACTION: Just as you focus on ways to get and keep customers, do the same for your employees. Customers Want It Now Customers will be less patient next year because of what is referred to as the Amazonation of the customer.

Trends 95

Trends Customer Service Customer Service Training Customer Retention 95

Comm100

FEBRUARY 23, 2021

It’s true what they say: 2020 was a year for the books, and its impact on customer service was no exception. Companies of all sizes had to adjust to everything from the pivot to working from home to navigating rising customer expectations. Email is still a huge player for customers of all age groups in 2021.

Customer Service 130

Customer Service Self Service Social Media Knowledge Base 130

Kayako

SEPTEMBER 14, 2018

If you take a look at Kayako’s website and blog, it’s obvious that we know live chat customer support is a big difference-maker for businesses large and small. Our study of 500 consumers and businesses proves it. Customers Buy from Companies That Offer Live Chat. Customers Buy from Companies That Offer Live Chat.

Loyalty 180

Loyalty Sales Competitive Advantage Ecommerce 180

Kustomer

SEPTEMBER 1, 2022

Even if your products or services are exceptional, customer loyalty can be lost if the customer experience is tainted with one poor interaction. A stellar customer support strategy is meant to enhance the consumer experience as they interact with your brand. 6 Ways to Maintain a Strong Customer Service Strategy.

Customer Service Strategies 104

Customer Service Strategies Self Service Strategy Customer Service 104

GetFeedback

SEPTEMBER 13, 2018

Our best customers are the ones who stay with us. The proof is in the numbers: a 5% increase in customer retention can lead to a 25-95% increase in profits , according to a Harvard Business School study. And of those consumers, 85% wanted to warn others about doing business with the company.

Customer Journeys 247

Customer Journeys Net Promoter Score How To NPS 247

GetFeedback

MAY 9, 2019

That’s because a bad customer experience interrupts our day. We don’t expect it as consumers—we anticipate that brands will always meet our needs and wants. So when bad customer experiences happen, the news of it spreads on social channels and by word-of-mouth. Why do companies struggle to meet customer expectations?

Customer Experience 337

Customer Experience Customer Journeys Metrics Effort Score 337

SmartKarrot

AUGUST 10, 2020

So have customer expectations. With the advent of digitalization and cut-throat competitions redefining the business landscape across industries, customers have more options to pick from. This puts substantial pressure on businesses to deliver higher-quality products and services, and also a better customer experience.

Customer Expectations 19

Customer Expectations Social Media Customer Retention B2B 19

SmartKarrot

OCTOBER 13, 2023

Retaining those customers for the long haul is equally, if not more, essential. A high customer retention rate is a testament to a company’s customer-centric approach, resulting in increased profits, positive word-of-mouth, and enhanced brand reputation. Stay Updated: The marketplace is in perpetual motion.

Customer Retention 10

Customer Retention Strategy Loyalty Programs Customer Centricity 10

Lumoa

NOVEMBER 29, 2021

The probability of selling to a new prospect is 5-20%, while the probability of selling to an existing customer is 60-70% according to Marketing Metrics. Murphy & Murphy estimate that a 2% increase in customer retention has the same effect on profits as cutting the costs by 10%.

ROI 259

ROI Customer Experience NPS Financial 259

Kustomer

JANUARY 11, 2022

While businesses and consumers had embraced and integrated e-commerce and social shopping into their company structures for some time, the last two years accelerated those efforts with dizzying speed. And research has shown that a growing number of consumers expect personalized, seamless, and swift customer service.

e-support 105

e-support Effort Score Retail Analytics 105

Comm100

DECEMBER 19, 2017

Numerous studies have shown that customers are willing to pay more money for good service. Therefore, any company trying to improve their customer experience should follow a defined plan to adopt a strategy that is congruent with their customer expectations. What actions will improve our customer satisfaction ratings?

Strategy 294

Strategy Customer Experience How To Customer Journeys 294

ijgolding

DECEMBER 9, 2014

The purchase (actually conducted as a mystery shopping exercise whilst in my role as Head of Group Customer Experience at Shop Direct) has led to me experiencing another certainty in my life – my annual ‘Happy Birthday’ email from JD Williams. What funny names have you been called in communications from companies?

Hotels 212

Hotels Customer Retention Retail Communication 212

SurveySensum

JULY 11, 2023

Companies that succeed at customer experience increase their sales at a rate that is 4-8 percent higher than the market average. This is due to the fact that a greater experience fosters stronger loyalty, converting consumers into promoters with a lifetime value of 6 to 14 times – Bain & Company, Are you experienced?

Brands 83

Brands Customer Experience Effort Score Rewards Programs 83

delighted

JULY 13, 2022

And likely, if something in your customer experience with the brand has gone awry in the past, e.g., your order didn’t ship when they said it would or the item that arrived did not look like the item you ordered, the brand was eager to make it right – and in turn, that earned your loyalty even more. Customer retention rate.

Loyalty 84

Loyalty Measurement Customer Experience Net Promoter Score 84