SmartMessage Blog

JULY 20, 2023

Statistics state that it is more profitable to keep current customers compared to acquiring new ones. According to expressanalytics, customer retention costs up to 6 times less than acquisition. Keeping customers loyal is critical for financial success and a reliable brand image.

Loyalty 52

Loyalty Management Loyalty Programs Competitive Advantage 52

SmartMessage Blog

JULY 13, 2023

Statistics state that it is more profitable to keep current customers compared to acquiring new ones. According to expressanalytics, customer retention costs up to 6 times less than acquisition. Keeping customers loyal is critical for financial success and a reliable brand image.

Loyalty 40

Loyalty Management Loyalty Programs Competitive Advantage 40

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

Doing CX Right

AUGUST 23, 2020

One good way to understand brand loyalty is to ask consumers what they think it is : Repeat purchasing. About 68% of consumers think that choosing to buy from a brand over and over again is indicative of loyalty. This is a pretty vague description of loyalty but accounts for 39.5% of consumers.

Loyalty 52

Loyalty Brands Social Media Competitive Advantage 52

SmartMessage Blog

JULY 26, 2023

Psychographic Segmentation Unlike demographic segmentation, psychographic segmentation focuses more on subjective and deeper aspects of consumers’ personalities and motivations. Segmentation also improves adaptability and flexibility, empowering brands with a competitive advantage. Conducting customer journey analysis.

Strategy 40

Strategy Marketing Customer Satisfaction CRM 40

BirdEye

MARCH 24, 2023

Market development strategy focuses on the consumer and their journey right from awareness to loyalty and all the strategies employed to ensure they reach that loyalty stage. Referrals According to Nielsen, 92% of consumers trust referrals from people they know. Build a strong customer referral program.

Return on Investment 98

Return on Investment Social Media Sales Metrics 98

ProProfs Chat

DECEMBER 12, 2019

what customers want, . The best way to do this is by reading customer retention statistics, and that’s what we have carefully curated in this blog. Here are 50+ customer retention stats that’ll give you insight into a customer’s mind. Why Customers Leave? Why Customers Come Back?

Customer Retention 88

Customer Retention Loyalty Programs Social Media Loyalty 88

Thematic

MARCH 27, 2024

A focus on customer acquisition often overshadows the vital task of retention. A shocking 66% of consumers end relationships with companies due to poor customer service. This highlights a disconnect: Customers crave positive experiences, yet businesses sometimes must listen proactively. The consequence?

Effort Score 62

Effort Score Analysis Feedback Net Promoter Score 62

Currency Alliance

JUNE 22, 2017

A year that could see a tipping point for customer loyalty programs. We’ve seen plenty of articles over the last couple of years about how the traditional loyalty program is falling short. We need to ask ourselves – do traditional drivers of customer loyalty still apply to the modern consumer?

Loyalty 40

Loyalty Loyalty Programs Social Media Brands 40

ProProfs Chat

DECEMBER 12, 2019

Loyal customers, they don’t just come back, they don’t simply recommend you, they insist that their friends do business with you. The way to a customer’s heart is much more than a loyalty program. Making customer evangelists is about creating experiences worth talking about. Valeria Maltoni. ” – John R.

Customer Experience 80

Customer Experience Customer Service Advertising Customers 80

Currency Alliance

MAY 9, 2019

…when the automotive and mobility industries shifted from a driver- or owner-focused value proposition to a customer-centered one; and when micromobility started to scale up.” [i]. Consumers thought about cars and mass transit, while manufacturers of transportation assets thought about market share.

Loyalty 56

Loyalty Strategy Loyalty Programs Airlines 56

SurveySensum

SEPTEMBER 8, 2023

They found that on average, a consumer is valued at $210 to Dell. Now, according to Bain & Company, if Dell could turn only 2-8% of those unhappy customers into satisfied ones, they could have boosted their annual revenue by $167 million. NPS increases customer loyalty: According to the 2017 Temkin research , promoters are 4.2

NPS 52

NPS ROI Social Media Effort Score 52

ProProfs Chat

JULY 21, 2020

It is important to imbibe a sense of trust among consumers to foster a deep and long-term relationship. While all the previous stages are time-bound, the retention stage can often be prolonged depending on the value a business is willing to offer. Recommended Read: How to Increase Customer Retention.

Management 52

Management Loyalty Programs Loyalty Competitive Advantage 52