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Customer retention in the telecom industry – new thinking

TechSee

With the telecommunications industry at saturation point, and with services largely commoditized, providers suffer from exceptionally high rates of churn. Accenture reports that 77% of consumers are no longer loyal to any particular brand, telcos must work harder than ever to retain their customer bases. Churn in the telecom industry.

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Optimove Brings Customer Retention Prowess to Financial Services Industry

Optimove

With frequently changing regulations and increased competition due to the elimination of switching costs, the financial services space is experiencing a rough patch in customer retention. Recently, large financial institutions have been experiencing major deposit outflows due to customers searching for better savings rates.

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Customer retention: 35 data-backed approaches

Customer Bliss

I talk often about customer experience , but recently I’ve heard from some followers that they’d like a bit more on customer retention. The first thing to understand about customer retention is that obviously it comes straight from customer experience. Five steps for regaining customer trust.

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Communication Disconnects negatively impact Customer Retention

One Millimeter Mindset

Communication disconnects, above all, have negative impacts on customer retention rates. First, when customers do not understand the purpose of your job function or cannot understand the words you use, they tune out and turn off. Because they think you are not making every best effort to communicate with them.

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Customer Retention Strategies for Banks: Customer Experience is Key

ReviewTrackers

Bank Customer Retention: Why It Matters. You’ve probably heard this more than a dozen times: retaining a customer is so much cheaper than acquiring a new one. According to Kantar , banks that lead in the customer experience index have a recommendation rate that is 1.9 times higher, and their customers are 2.1

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8 ways to improve customer experience in insurance industry

BirdEye

Customer experience is much more than just a buzzword, especially in the insurance industry. And that is why it is time to understand the factors contributing to customer experience in the insurance industry. Why is customer experience important in the insurance industry?

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9 Strategies to Improve Customer Retention Rate in 2023

SurveySensum

This strategic move resulted in doubling their business, showcasing the power of leveraging customer retention to drive growth. Well, acquiring new customers can costs you five times more than keeping the ones you have. So, customer retention is indeed crucial. What is the Customer Retention Rate?