Remove Customer Centricity Remove Customer Retention Remove Feedback Remove Voice of Customer

How & why to restart your Voice of Customer program

Thematic

In this blog, we’ll discuss how to u nderstand your Voice of Customer (VOC) insights and why this is important. What are your customers actually telling you and how do you analyze this information to get to meaningful insights? What is Voice of Customer (VOC)?

Customer Retention vs New Customer Acquisition: How Do You Optimize Both?

Totango

Your customer only sees one brand. For them, customer attraction and retention blur together into one ongoing journey. . Knowing these different stages can be powerful for monitoring, servicing, and motivating customers, but it all needs to come from a unified, consistent brand.

Understanding the Real Impact of Improving Customer Retention

ChurnZero

Did you know: For every 1% increase in revenue retention, a SaaS company’s valuation increases by 12% after five years? This was just one of the takeaways from our well-attended webinar this week on- Understanding the Real Impact of Improving Retention and Customer Success Best Practices.

Top Priorities in Customer-Centric Contact Centers

RapportBoost

Did you miss this Customer Experience Update Webinar from the end of November? Read the transcript below: Nicholas Rodriguez: …the highest priorities for Contact Centers that focus on the customer. And so in the next slide, Nate Brown is the co-founder of CX Accelerator.

24 Experts Reveal Their Top Customer Retention Strategies For B2C Brands

Storyminers

In today’s competitive marketplace, consumers have an increasing amount of choices- and they aren’t afraid to try them. There always seems to be a new product, service, or experience within reach of a brand’s current customer. And as we all know, replacing an existing customer costs 7 times more than retaining them. So how do you ensure your brand is retaining its precious customer base? VP of Customer Experience, Compellon.

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5 Fails to Avoid with Your VoC Program

CX Journey

Image courtesy of Pixabay I originally wrote today's post for CallidusCloud CX; it was published on their blog on June 21, 2017. Not seeing the results or improvements you expected to see from your customer listening efforts? Detailed below are five of them.

Voice of the Customer – Gain Valuable Insights From Customer Feedback

Retently

How much do you focus on customer retention? If you don’t, you’re likely to hemorrhage money in the long run, given that acquiring new customers will cost you 5 times more than retaining existing clients. How Do You Define Voice of the Customer?

How Customer Success Can Catalyze Customer-Centric Change

ChurnZero

Customer-centricity is a term that gets bounced around a lot, but what does it really mean? And even more, what can Customer Success teams do to contribute to their organization’s Customer Experience (CX) evolution? It’s all about customer-centricity.

Do Your Employees Know What Value Customers Are Looking For?

Second to None

All brands should invest a significant amount of time and energy to foster long-lasting relationships with consumers, and any resource that can assist in this process is valuable. Leaders in any industry are providing a unique value proposition to customers so that they stand out amongst the rest of their competition. If your employees are not readily equipped with this information, your team will not be in a position to establish this level of trust with your existing base.

Find a Vendor That Provides Insights On Top Of Data Collection

Second to None

Collecting data on a consistent basis is a key step of providing an excellent experience to your customers. Finding conclusive action priorities from the massive pile of data you have collected is a challenging and complex process, and ideally you are working with a vendor that possesses the knowledge to filter through this information and find key drivers for positive change. Customer Experience research can have a potentially massive effect on the growth of your brand.

How To Consistently Create Loyal Customers

Second to None

Creating loyalty amongst your target customers serves a challenge for brands in any industry, and ultimately, those organizations that do inspire customers to return to their brand are positioning themselves for continued success. Customer retention requires diligence and a detail-oriented team, willing to put in the extra effort to sway customers to keep on coming back and bringing their own networks with them.

Create Better And Longer Relationships With Customers

Second to None

Encouraging excellent relationships with customers can be a significant differentiator across almost every industry. Customer retention is a key signifier of a high-performance CX platform, and your brand’s ability to provide the unique value desired by your target customers. details some methodology around how to establish these relationships, through the lens of a yoga studio started by the author. Make your customer experience exciting.

Start Selling To Your Existing Customers

Second to None

Establishing a level of Customer Experience performance that contributes to high retention rates will ultimately be the differentiator between your brand and the competition. It is significantly cheaper to invest in customer retention than acquisition, but without great service throughout the customer journey, it will be challenging to sway customers to keep on coming back. on April 2, 2018: “ Customer acquisition is an ongoing challenge.

Create An Experientially-Influenced Business Strategy

Second to None

Providing value to customers beyond the product or service you are selling is important to establishing a leading Customer Experience platform. By converting these channels into experiential destinations, you are proving to your customers that your relationship goes beyond simply being transactional. However, proving the return on investment of experiential isn’t as cut and dried as tracking the click-through rates of your online ads.

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Create A High-Performance Customer Engagement Platform

Second to None

The ability to curate high levels of customer engagement can help brands to increase their customer retention rate, which can have a direct impact on overall profitability. Brands in any industry can benefit by creating a platform that encourages return customers, and one key aspect of doing so is establishing clear moments along the customer journey meant to increase levels of engagement before, during and after purchase.

The Evolving Chief Customer Officer: Identifying Value, Authority, Scope, Responsibilities, and Strategic Direction Within the Enterprise

Beyond Philosophy

In the past decade, we’ve seen the number of companies with an individual in the role of Chief Customer Officer (CCO) – nicely defined by Wikipedia as “the executive responsible for the total relationship with an organization’s customers” – grow from under 100 to thousands today. Five Core Areas of Functional Responsibility. They are; Customer Experience and Value Optimization. Customer Insight, Data and Action Generation. Michael Lowenstein, Ph.D.,

An Article On Customer Experience That Actually Makes Sense

GetFeedback

If you Google customer experience you’ll get about 2,340,000,000 results—articles, videos, reports—with in-depth information about the space. This leaves you with more uncertainty about CX than you had at the start of your research. . What is customer experience? 73% of U.S.

Customer Experience Strategy: An A to Z Glossary

Lumoa

Customer experience has been on the rise during the last couple of years. From the traditional product-oriented businesses we’re moving towards customer understanding and customer-centric approaches. How to take actions on customer experience?

A to Z Guide to Customer Experience Definitions and Terms

Lumoa

Customer experience has been on the rise during the last couple of years. From the traditional product-oriented businesses we’re moving towards customer understanding and customer-centric approaches. How to take actions on customer experience?

How Best to Create a B2B Customer Survey

ChurnZero

You may think when looking for clear feedback from clients in the B2B sphere, it can be simple enough to directly ask for an assessment of the products or services you are providing. The most crucial part of creating a survey is to consider what results you are anticipating.

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Mystery Shopping is Valuable For All Brands, Not Just Restaurants and Retail

Second to None

Interactions with customers are an inevitability for all brands, but the way that these interactions occur varies greatly across different industries. It is important that your leadership team is expertly aware of how employees are performing within these individual instances. These moments take place every day, online , on-the-phone or in-store , and each individual instance shapes the overall perception that consumers have of your brand.

Are You Working With An OmniChannel Expert?

Second to None

Customer relationships are the foundational building blocks of a high-performance organization. These interactions and relationships are spread across more than the traditional channels, and each of these avenues can affect your team’s ability to curate long-term customer relationships. For a successful omnichannel Customer Experience program, employees need to sift through and expertly analyze a large amount of information.

CX Experts We Love

Wootric CX Blog

These authors, speakers, thought-leaders and dedicated customer experience professionals have all helped contribute to the widespread adoption of CX, not just as a strategy, but as a higher goal. Why we love Amy: She’s head of Customer Advocacy at MindTouch.

CEMs vs. CRMs (And Why You Need Both)

PeopleMetrics

Customer Experience Management (CEM) and Customer Relationship Management (CRM) are the same, right?”. While it may be true that at their core, both systems revolve around the key interactions a customer has with your brand, CRMs and CEMs serve distinctly different purposes and operate from two contrasting angles. or not, why do customers return. P.S. What did you think of this blog post? Customer Experience Customer Experience Management Software

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Expert Tips from Customer Success Leaders

ChurnZero

RYG, which stands for red, yellow, green, (health scores) is all about your customers a nd their success. Wondering how to take your red and yellow customers and transform them into your biggest cheerleaders? Hiring and Scaling a Customer Success Team.

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Customer Experience Leaders & Laggards – What’s the Difference?

Customer Alignment

Customer Experience leaders grow revenue faster than CX laggards, drive higher brand preference, and can charge more for their products. ” The benefit of CX is now well documented even if organisations are still struggling to link its value to business outcomes.

Illustrating the ROI of CX

Second to None

Despite its critical role in a company’s success, businesses often place customer experience on the back burner when it comes to financial investment. The hesitancy towards CX investments stems from the difficulty in directly attributing revenue growth to specific changes in customer experience. Compared to clear-cut investments, the ROI of CX can appear to be ambiguous. Yet there is an increasing amount of research that illustrates the validity of CX investments.

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Illustrating the ROI of CX

Second to None

Despite its critical role in a company’s success, businesses often place customer experience on the back burner when it comes to financial investment. The hesitancy towards CX investments stems from the difficulty in directly attributing revenue growth to specific changes in customer experience. Compared to clear-cut investments, the ROI of CX can appear to be ambiguous. Yet there is an increasing amount of research that illustrates the validity of CX investments.

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2015 Temkin Group CX Vendor Excellence Award Winners

Experience Matters

Today we announced the results of the 2015 Temkin Group CX Vendor Excellence Awards. Once again we had a great group of nominees, making the scoring difficult for the judges. In its third year, these awards recognize companies that provide products and services that help companies improve the customer experience they deliver. Nominees are rated based on their capabilities, results, and client feedback. This year’s crop of candidates was quite competitive.

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