article thumbnail

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. That means the relationship does not become profitable for the bank until well into the second year. times higher, and their customers are 2.1

article thumbnail

What is relationship marketing: examples and strategies

BirdEye

Customer acquisition is one of the biggest challenges and expenditures for businesses. However, constantly acquiring new customers without investing in strategies to retain them can prove quite harmful to the bottom line. To first time customers turn into loyal customer, it is important to invest in building relationships with them.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Minneapolis Saint Paul Business Journal Honors Calabrio CFO — Jenny Kray

Calabrio

Jenny also lent her pragmatic viewpoint to Calabrio’s platform integration and buy-versus-build M&A strategies, which helped us more than double our recurring revenue from 2016 to 2019.

Financial 130
article thumbnail

15 Top Customer Service Training Courses for Your Agents (Half Are Free)

Comm100

Time and time again, we see evidence that great customer service experiences are critical in maintaining customer loyalty and satisfaction. According to research conducted in 2015 by Aspect Cloud Solutions , 76% of respondents see “customer service as a ‘true test’ of how much a company values them.”

article thumbnail

15 Customer Retention Strategies for Long-Term Customer Loyalty

Comm100

Your customer retention is super important to your bottom line—after all, customer loyalty is well-known for being more valuable than customer acquisition. With stakes this high, it’s essential that you build a solid customer retention plan that can lead to long-term customer loyalty. Enhance your blog.

article thumbnail

7 Ways to Improve Financial Customer Services

CSM Magazine

Thanks to the technological revolution, customer service has become a key factor which distinguishes companies in the financial services and insurance (FSI) industry. Here are some ways the financial sector can measure their customer service, identify gaps and take steps to improve the customer experience (CX). Video chat.

article thumbnail

Customer Retention in Banking: Strategies to Get You Started

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. That means the relationship does not become profitable for the bank until well into the second year. times higher, and their customers are 2.1