Remove Customer Base Remove Effort Score Remove Loyalty Programs Remove ROI
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Customer retention in the telecom industry – new thinking

TechSee

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. Acquisition costs far outweigh those of keeping current customers, further motivating companies to implement innovative strategies to boost customer retention in the telecom industry.

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Next-Generation Loyalty Marketing (for experts)

Currency Alliance

Loyalty programs must evolve to keep customers engaged. Every business needs a loyalty strategy, but not every business needs a loyalty points program. Points are just an excuse to start a dialog with customers, keep score, and enable an economy based on an incentives currency.

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Increase revenue with local lead generation

BirdEye

Then work to encourage customers to leave reviews. Better ROI Localized lead generation can produce a better return on investment (ROI) by streamlining your marketing efforts to target customers who are more likely to convert. Reviews help to show that you are an active and popular business.

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What Are the Benefits of Customer Retention?

Confirmit

Preventing customer churn is also in essence the main objective of most customer experience programs, and often the most tangible one as linking customer loyalty to revenue from repeat business and positive word of mouth is a well-established way to fund CX improvement efforts, like the development of a new customer loyalty program.

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Innovators break the mould, at the 2020 Loyalty Magazine Awards

Currency Alliance

While travel and retail brands have made a lot of progress in the last 24 months, the bulk of innovation has come from other consumer sectors – including media businesses, entertainment, and telecoms providers, which in recent years appeared to regard loyalty as a lost cause. Hybrid points programs. Engaging employees.

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Reduce Customer Churn with the Voice of the Customer (VoC)

Thematic

This highlights a disconnect: Customers crave positive experiences, yet businesses sometimes must listen proactively. Churn –  lost revenue, tarnished reputation, and wasted effort.  The This analysis allows you to assign weights to specific data points based on how strongly they correlate with churn.

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Consumer banking: money can’t buy loyalty

Currency Alliance

The smart ones kept a loyalty strategy even if they eliminated the points, but some foolishly acted as though their rewards program was their loyalty strategy – and threw the baby out with the bath water. Economic cycles aside, though, the real problem is that it attracts entirely the wrong sort of customer.

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