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How to Build a Customer Retention Strategy

ProProfs Chat

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. Discounts, free shipping, and loyalty points rule the list.

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Customer Support is an Investment, Not an Expense

Seaton CX

When we treat customer support as a cost center rather than an investment in customer retention, we set in motion a long chain of consequences that ends in customer churn and lost revenue. ” The role of support, the authors conclude, isn’t to increase customer loyalty, but rather to mitigate disloyalty. .”

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What Do Companies With Low Net Promoter Score Have in Common?

Retently

Below, we’ve compared companies with low Net Promoter Scores relative to the averages for their industries to determine which characteristics have the most significant negative impact on customer satisfaction. There are two lessons here for businesses aiming to improve retention, increase customer satisfaction, and foster loyalty.

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‘Customer excellence is here: it’s just not very evenly distributed yet’. The Nunwood 2014 UK Customer Experience Excellence Report

ijgolding

However it should be noted that the brand that has come top of the pile in 2014 (and was also third in 2013) is one that comes from the industry that many of us still trust the least. Recovery of poor experiences is well known to have a potentially galvanising effect on loyalty. Resolution.

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Google’s Customer Experience Leadership, With Catherine Courage – CB59

Customer Bliss

Catherine is committed to delivering world-class products and services that drive customer adoption, loyalty and business results. She advocates a design-thinking approach, which focuses on customer empathy, experimentation, design, and innovation. Some include: Customer satisfaction. Customer retention.

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SaaS Customer Experience Starts in the C-Suite

Experience Investigators by 360Connext

Customer retention is paramount in keeping a SaaS company afloat, particularly as a company matures. While customer acquisition and lead conversion are integral parts of growing a SaaS business, with time, retention and renewals gain equal and eventually greater importance.

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How does customer experience pay? Check out your portfolio

Heart of the Customer

You would think that the return on customer experience is obvious. A better customer experience improves loyalty, and loyalty means you can spend more time serving customers than chasing new ones, resulting in cost savings. So, yes, Customer Experience pays. million in new revenue. The CX Laggards lost 2.5%