40 Customer Retention Statistics You Need to Know

GetFeedback

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. Customer Retention by the Numbers. Institute of Customer Service ).

40 Customer Retention Statistics You Need to Know

GetFeedback

These 40 customer retention stats reinforce the growing need for effective customer experience management. Churn can cripple any organization. Articles

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Why Positive Customer Experience Increases Customer Retention

NICE inContact

If ice cream flavors were brands, I’d be a die-hard customer devoted to The Mint Chocolate Chip Company for life. Talk about customer retention. Let’s look more closely at the link between customer experience and customer retention. I love ice cream.

Roadblocks on How to Fix Customer Retention

CloudCherry

Whether a customer is ‘shiny and new’- a phrase used by this week’s ‘Sweets of CX’ guest, Jeannie Walters – or a loyal, long-time supporter of your brand, it’s all about keeping the healthy relationship going. Customer Retention

The SaaS Guide to Customer Engagement, Retention, and Advocacy

After onboarding, most SaaS customers have to find their own way to success. This ebook by Influitive is a compilation of some of the best examples of programs designed to drive customer retention and advocacy, with examples from some of the world’s largest and most innovative SaaS vendors.

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. This is further underscored by research suggesting that a mere 5% increase in a company’s retention rate can increase profits by 25% to 95%.

Customer retention rates depend on understanding these 3 personas

TechSee

Customer churn is a growing problem across many industries and managing it has become critically important to the maintaining profitability. Research indicates that the cost of acquiring a new customer can be as much as five to seven times higher than keeping an existing one.

3 Ways to improve Your Customer Retention Scorecard

One Millimeter Mindset

Do you have a customer retention scorecard? Any of the plethora of scoring systems which measure customer satisfaction and loyalty. And your own performance is measured and compared with the ratings customers provide on a quarterly basis.

How to Measure and Improve Customer Retention

Lumoa

What is Customer Retention is and how can you improve it? We share the best tips on how to improve Customer Retention and tell you more about other relating KPI:s you can use. Feed generated with FetchRSS

Understanding the Importance of Customer Retention

Totango

If you’re not working hard to retain customers, you may as well—because you’ll be losing money. A one-time customer is a lost revenue opportunity. Time and money that could have been saved—if you’d focused on customer retention. New customer acquisition costs a lot.

Use These Survey Questions to Predict and Increase Customer Retention

GetFeedback

When it comes to measuring the probability for a customer to return to a brand and make new purchases, many businesses rely on the typical customer satisfaction (CSAT) survey question: “How satisfied were you with your experience today?”. While it may seem that this question will determine customer retention , research on customer feedback tells a different story. Here are two very effective (and often overlooked) ways to predict customer retention.

Developing Surveys to Boost Customer Retention Through Actionable Data

GetFeedback

Develop surveys that will help you gather insights quickly so you can turn that data into focused action plans that accelerate your retention rates. .

5 Strategies to Improve Customer Retention With Social Media

GetFeedback

In this article we are going to talk about how to use social media to attract and retain customers via 5 proven-to-work strategies. Articles

Customer Retention Optimization Strategies to Keep Customers Long-Term

Totango

Your customers are your enterprise’s life’s blood. When you get a new customer, work to retain them and grow customer lifetime value. When you retain a customer, you’ve won a valuable patron who will be far likelier to want future sales or try new products. .

Use These Survey Questions to Predict and Increase Customer Retention

GetFeedback

Use these two very effective (and often overlooked) survey methods to predict customer retention. Articles

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.

Developing Surveys to Boost Customer Retention Through Actionable Data

GetFeedback

Customer retention is a leading critical performance indicator for companies in 2002, and for good reason. In fact, a survey by Brightback found that 97% of companies are prioritizing retention, proof of just how seriously businesses are taking this issue. Loyal customers drive increased revenue through referrals and repurchases, while the cost to acquire them has already been earned back. . Leverage CSAT for retention with focused survey questions.

Customer retention strategy: Is it too late?

Customer Bliss

One concept I get asked about a lot is customer retention strategy. Business tends to grow as a result of two factors: Your customer acquisition strategy. Your customer retention strategy. This all leads to one place: you need a customer retention strategy.

Customer retention is the new religion

Hello Customer

January typically is a month to forecast trends, and we believe customer retention will be an important one. But we see increasingly more organisations move their focus from aggressive acquisition investments to retention management. Customer retention or acquisition?

How to Optimize Customer Retention for B2B Enterprises

Totango

As part of a successful B2B enterprise, you understand the importance of your customers. New customer acquisition is at the heart of most traditional business models. In the customer-centered economy, however, retained customers are as good as gold. .

4 Customer Retention Strategies To Help Online Businesses Boost Loyalty

Kayako

What is customer retention? Simply put, customer retention refers to the strategies and tactics businesses use to encourage repeat purchases and ongoing loyalty from their existing customer base. Too many businesses, however, don’t invest in customer retention.

Understanding the Importance of Customer Retention

Totango

If you’re not working hard to retain customers, you may as well—because you’ll be losing money. A one-time customer is a lost revenue opportunity. Time and money that could have been saved—if you’d focused on customer retention. New customer acquisition costs a lot.

5 SaaS Renewal Process Best Practices for Customer Retention

Totango

With a focus on lifetime customer success rather than on quick revenue raising, you can turn your renewal process into a celebration of an ongoing partnership. Customer retention is about the promise of continued growth. Understand your customer’s journey.

The Relationship Between Customer Retention and Profitability Explained

Totango

We go to exhaustive lengths to find new ways to make our businesses more profitable, but sometimes the answer is right in front of your nose: if you want to raise profitability, retain customers over a lifetime. . Exploring the Link Between Customer Retention and Profitability.

The Secret to Customer Retention

CX Journey

Want to know the secret to customer retention? Probably not so different from what keeps your customers coming back, too. I don''t think I''m going out on a limb here to say: "Customer retention is paramount to acquisition!" focusing on customer retention.

Are Customer Acquisition Stories also Customer Retention Stories?

One Millimeter Mindset

What do your customer retention stories sound like? Can you rely on the same stories you told to acquire new customers, to also retain them? Customer retention stories involve more than just how your products, features and services play out, over time.

Technology Based Solutions to Enhance Customer Retention Strategies

TechSee

Customer churn in the age of information is a fact of life for every business in every industry. Customers have unprecedented access to data, enabling easy comparisons of alternatives, as well as hassle-free provider changes with a simple click of a button. Customer churn formula.

What is Customer Retention Management and Why Does it Matter?

Totango

As the economy grows increasingly customer-centric, customer retention becomes more vital to the success of enterprises. Repeat customers provide greater value at a lower cost than those who buy something once and leave. What is Customer Retention Management?

Commit to Customer Retention, Not Just Acquisition

Customer Bliss

When sales is the power core, you have a well-oiled machine that knows how to target customers and position your product with differentiation that causes people to want to have it. However, the connectivity between the sale and the overall customer experience can be an Achilles’ heel.

When We leverage Our Customer Retention Superpower

One Millimeter Mindset

Each of us has a customer retention superpower. And our unique qualities, actions, beliefs and behaviors keep customers glued to our sides, year after year. Because if, and when, we leave our current employer, why is it that some of our customers follow us to our next employer?

What is Customer Retention Management and Why Does it Matter?

Totango

As the economy grows increasingly customer-centric, customer retention becomes more vital to the success of enterprises. Repeat customers provide greater value at a lower cost than those who buy something once and leave. What is Customer Retention Management?

3 Tips for Boosting Customer Retention

inSided

Just how valuable is it to keep customers invested in your brand? We're exploring the answer to this question and some tips on improving retention in today's blog. Customer Success

How to Calculate and Improve Your Customer Retention Rate

Totango

Customer retention is the lifeblood of any savvy enterprise. It’s the only way to be successful in this customer-centered economy and ensure scalable long-term revenue. To retain customers, companies must make the customer experience better and ensure customers never stop seeing value from their product or service. Your customer retention rate (CRR) indicates the percentage of customers you’ve retained within a certain length of time.

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. A good blog communicates to customers that you care about solving the problems in their industry.

How to Increase Customer Retention?

ProProfs Chat

Well, one answer to that question is to make more sales, and no doubt that is important, another answer to that is customer retention. And what exactly is customer retention? No points for guessing, retain customers. Build a Customer Loyalty Program.

The 5 Best Customer Retention Strategies for Subscription Businesses

Totango

The most desirable customer in the world is your customer. While it’s no doubt a thrill to pursue and persuade a new customer to work with your enterprise, for software and subscription-based businesses, the real value lies in customer retention.

Customer Retention Strategy or Customer Churn Strategy?

One Millimeter Mindset

Ever think that your organization’s or association’s customer retention strategy may actually function as a customer churn strategy? My One Millimeter Mindset blog post, “ Do Our Professional Labels create Positive Customer Experiences?