Stella Connect

DECEMBER 7, 2021

For answers, our team at Stella Connect by Medallia commissioned a research study of more than 2,100 consumers in the US and UK to uncover key drivers of customer sentiment , behavior, preferences, and loyalty. 5 Best Practices from Our 2022 Insights on the Future of Customer Service Report.

Report 99

Report Customer Service Effort Score Customer Satisfaction 99

InMoment XI

MAY 3, 2022

Insurance customers are buying into a long-term relationship, which means building brand trust is extremely important to keep customer retention rates high. And for insurance CX programs, customer data is a key source of information that can help insurance companies cultivate a growing trust with their consumers.

Insurance 493

Insurance Tips Data Return on Investment 493

Magellan Solutions

AUGUST 17, 2020

With all the advertisements people see on the internet every day, customers can easily jump from your brand to another if you don’t have strong customer retention strategies. . To make your business thrive, you need to take care of one of the most important assets — your customers. What is Customer Retention?

Customer Retention 52

Customer Retention Strategy Loyalty Exceptional Customer Service 52

InMoment XI

FEBRUARY 23, 2024

Market segmentation is a research strategy that separates different consumers in order to study their preferences, needs, and perspectives in order to optimize business practices, products, and experiences. Hopefully, your business has more than one customer. Brands frequently provide deals that only apply when customers shop online.

Marketing 260

Marketing Customer Experience Return on Investment Analysis 260

Joe Rawlinson

MAY 31, 2017

The Pareto principle may date back to the 1800s, but it’s still relevant for the consumer marketplace today. Take a look at your most loyal customers. Forbes reports that most businesses find 20 percent of their most loyal customers actually make up 80 percent of their sales. Data-driven Strategies.

Customer Retention 98

Customer Retention Omni-Channel Strategy CRM 98

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

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. This year’s trends report has unearthed a few key discoveries that these businesses must pay attention to if they want to differentiate themselves in this competitive market.

Banking 295

Banking Trends Customer Experience Self Service 295

Thematic

DECEMBER 5, 2018

Today, it’s more about offering customers something as personalized as possible, so that they feel truly special. So, let’s look at ways to reduce churn with customer retention analytics and why it’s important in the first place. What is customer retention? Why is customer retention important?

Customer Retention 96

Customer Retention Analytics Data Strategy 96

BlueOcean

OCTOBER 4, 2023

The most recent census reports that 21.4% 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. of Canadians speak French as a first language. It’s our thing.

Contact Center 310

Contact Center Customer Care Average Handle Time Consumers 310

Kayako

MAY 16, 2018

Here are 7 ways that you can use phone calls and live chat to give your customers more immediate gratification and increase your company’s revenue. Calls and live chat increase customer retention and upsell opportunities. Improving customer retention by 5% can increase profits by 95%, according to Bain & Company.

Customer Retention 148

Customer Retention Sales Customers Social Media 148

NetBase

MARCH 4, 2019

And any brands still devoting half-hearted efforts to their digital marketing really need to read The 2019 State of Social Report , as it offers game-changing insight for (and from) small, challenger and top-performing businesses. And you can thank consumers for that. Consumer Marketing Opportunities & Challenges.

Report 89

Report Social Media Advertising Ecommerce 89

ijgolding

OCTOBER 21, 2014

The quote is in fact the very first line of the executive summary of this years Nunwood UK Customer Experience Excellence Report – a report that should be essential reading for any customer experience professional in the UK. Whilst it is not, I can recognise a particularly relevant and accurate quote when I see one.

Report 229

Report Customer Experience Customer Centricity Fashion 229

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

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. After all, customer retention doesn’t improve overnight.

Customer Retention 82

Customer Retention Engagement Strategy Rewards Programs 82

ShepHyken

MAY 13, 2024

My Comment: This article is about customer support. Our customer service and CX research found that 43% of US consumers would rather clean a toilet than contact customer support. Under his leadership (three different times), the company grew and flourished as a brand known for its excellent customer experience.

Customer Service 73

Customer Service Loyalty Programs Customer Retention Metrics 73

InMoment XI

SEPTEMBER 1, 2022

There is something to be said about how vital it is to leverage market research to understand your non-buyers so you can convert them into customers. But focusing on how to improve customer retention is just as important, if not more. That is why your customer retention efforts are so important. You guessed it!

Customer Retention 260

Customer Retention How To Customer Journeys Telecommunications 260

SurveySparrow

JANUARY 14, 2020

Because there are plenty of options for your customers and a small slip from your side can make them leave you. This is why you need to have a customer retention plan in place. The importance of customer retention cannot be explained in one or two sentences. What is customer retention? Saves money.

Customer Retention 52

Customer Retention Gamification Feedback Loyalty Programs 52

Lumoa

NOVEMBER 17, 2022

In This Article: Customer Experience in E-commerce Trend Predictions for 2023 Offering a Personalized Experience Improving Customer Relationships with AI Chatbot Customer Support Data Collection Customer Satisfaction Analysis Training Employees to Improve CX Providing Quality CX During Consumer Inflation Key Takeaways.

e-support 208

e-support Customer Experience Social Media Chatbots 208

Totango

DECEMBER 3, 2020

Looking back at the 2020 Customer Success Salary Report , this year has also had a particularly influential effect on the Customer Success (CS) Industry. As compared to 2019, companies are increasingly growing their Customer Success teams to maximize retention and drive growth from existing customers. .

Report 64

Report Customer Success Net Promoter Score Roadmap 64

TechSee

OCTOBER 2, 2019

The days of long-term customer brand loyalty to brands are over. Today, consumer stickiness is far more dependent upon people’s specific experiences and the level of service they receive. This indicates a clear opportunity for companies to recognize any shortcomings and take corrective action before the customer defects.

Survey 164

Survey Customer Service Social Media Telecommunications 164

Optimove

MAY 30, 2023

Our May 2023 survey of marketers shows that for the second year in a row, respondents continue to allocate more of their budget for acquisition marketing versus retention marketing, despite consumer spending uncertainty, and that new customer acquisition can cost  five times  more than retaining an existing one.

B2C 93

B2C Survey Multi-Channel Marketing 93

Lumoa

JANUARY 19, 2023

Your team must be skilled in market research and analysis, be the voice of your consumers, and be the driving force behind change and the elimination of pain points. They also need to be able to make sense of them, build reports, and recommend actions. This is mainly because the customer support function can be extremely complex.

Customer Experience 236

Customer Experience Net Promoter Score How To Customer Journeys 236

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

Bold360

DECEMBER 8, 2016

A funny thing happened when researchers asked consumers and marketers associated with the travel industry how they viewed the industry’s well-known loyalty programs. For the marketers – 66 percent of them – the programs were seen as a good way for customers to show loyalty to the brand. How to retain these customers?

Customer Retention 40

Customer Retention Strategy Social Media Loyalty Programs 40

Win the Customer

JANUARY 19, 2016

Seventy percent of companies agree that retaining customers is cheaper than acquiring new ones, an Econsultancy report on cross-channel marketing found. Forty-nine percent find that building existing customer relationships brings a bigger return on investment than acquiring new customers. Improve Your Customer Experience.

Customer Retention 52

Customer Retention Ecommerce Return on Investment Guidelines 52

GetFeedback

JUNE 11, 2019

Customers will drop everything to attend a sale, try out a new feature, or write a positive review. According to Exploring the Value of Emotion-driven Engagement, a new report from Deloitte Digital, brands can build impressive levels of customer loyalty by connecting emotionally with their audiences.

Study 170

Study Loyalty Connections Loyalty Programs 170

Totango

MAY 17, 2024

Leading companies and CS teams are paving the way by providing innovative solutions that leverage AI technologies to accelerate impact and drive customer retention and growth. As a result, CSMs spend a staggering 35% of their time compiling details on customer accounts using various tools.

Innovation 96

Innovation Call Recording Conference Tools 96

SurveyGizmo

NOVEMBER 4, 2021

Please download our CX Predictions for 2022 ebook for our full report. Brand loyalty took a nosedive during the pandemic with 75% of consumers trying a new shopping behavior since COVID started. When consumers couldn’t browse grocery store aisles, getting new products delivered scratched the itch for something outside the routine.

Loyalty 95

Loyalty Brands eBook Loyalty Programs 95

NobelBiz

NOVEMBER 13, 2023

Customers who enjoy positive interactions are more likely to become repeat buyers, brand advocates, and contribute to a lower churn rate. According to Forbes : 97% of consumers and 98% of contact center managers say customer service interactions impact whether consumers stay loyal to a brand.

ROI 111

ROI Net Promoter Score Measurement Customer Experience 111

ShepHyken

JULY 26, 2021

Negative Employee Experiences Can Translate Into Poor Customer Service, Report Says by Emilie Shumway. (HR times more likely to say they do not provide excellent customer service and twice as likely to say they do not deliver quality outcomes. Lessons from the pandemic can improve your customers’ experiences by Joyce Kim.

Customer Service 105

Customer Service Contact Center Customer Retention Poor Customer Service 105

Comm100

FEBRUARY 23, 2021

Here are our top tips for small businesses to provide excellent customer support, no matter the team size or industry. Making it easy for your customers to reach you across different channels is vital, especially in 2021. Tips for unifying your customer service approach: – Use omnichannel customer service software.

Customer Service 130

Customer Service Self Service Social Media Knowledge Base 130

ShepHyken

SEPTEMBER 10, 2023

How the ‘Zero Consumer’ is Inspiring Innovative Visual Imagery for Retail Success by Peter McCall (Total Retail) Consumers’ shopping expectations have skyrocketed. According to McKinsey, these are today’s ‘Zero Consumers.’ These are what McKinsey refers to as the “Zero Consumer.”

Customer Service 81

Customer Service Loyalty Programs Retail Loyalty 81

ShepHyken

AUGUST 6, 2023

The 11 Customer Service Skills You Need to Succeed in Any Industry by CX Network Editor (CX Network Editor) In the last few years we have witnessed an acceleration of technologies that remove friction from customer interactions, partly thanks to the Covid-19 pandemic. My Comment: I was intrigued by the title. in 2022 and 5.4%

Customer Service 62

Customer Service Tips e-support B2C 62

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

Kayako

JULY 31, 2019

It provides consumers with access to a sales rep who’s available to provide answers to questions about products and services. . 52% of consumers are more likely to repurchase from a company who offer live chat support – Kayako. Improved Customer Experiences. For instant support, customers opt for live chat.

Sales 161

Sales Marketing Net Promoter Score Consumers 161

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 lifetime value.

Loyalty 84

Loyalty Measurement Customer Experience Net Promoter Score 84

ijgolding

OCTOBER 24, 2014

Whilst the plight of Tesco was very visibly reported in the UK, the performance of an even bigger retail juggernaut was less so. On the day that the BBC reported Tesco shares ‘plunging’ by more than 8%, Amazon shares ‘plunged’ by 10%. All is not rosy in the supersize retail world it seems.

Retail 290

Retail Financial Report Customer Retention 290