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.

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.

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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.

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.

Customer Retention Strategies: How to Keep Your Customers

LiveChat

Have you ever considered that the work, resources and manpower you put toward acquiring new customers could be better spent on keeping your current customers through customer retention? What is customer retention. Why is customer retention so important.

Should companies focus on customer acquisition or customer retention?

Arie Goldshlager

The choice between customer acquisition and retention is a false choice. I recommend instead employing a diversified and balance customer lifecycle management approach with customer acquisition, onboarding, development and retention elements.

Four Steps to Increase Customer Retention

CSM Magazine

In these days of fierce competition, it’s crucial to do everything that you can to protect your customer base. The ability to retain customers is based on how well your internal operations run. Do you want better customer retention? Want better customer retention?

Can proactive customer retention efforts backfire?

Arie Goldshlager

I found this note on “When It Comes To Retaining Your Customers, Sometimes It’s Best To Leave Them Alone” very thought-provoking. Please note particularly: The research involved 65,000 customers of a South American wireless communications firm. As a result, only 6% of the customers who were not offered a plan suggestion left the supplier within the first three months after the program was launched.

Six customer retention strategies that will grow your business

nanorep

For the marketers – 66 percent of them – the programs were seen as a good way for customers to show loyalty to the brand. Seventy-three percent of the consumers, however, flipped the perception, looking at the programs as a great way for companies to show loyalty to customers. The study , reported in the Harvard Business Review, says a lot about how customer retention strategies can go awry when customer-centric principles get turned inside out.

The Secrets of Customer Retention & Communication in E-Commerce

Amity

Providing an excellent customer experience is one of the most important ways to improve retention and profitability in any business. A smart Customer Success strategy should always be set as a priority for any business in today’s market. Give Customers Value for Money.

Customer Retention – Let’s start at the very beginning

Ian Williams

The customer experience ‘movement’ began in earnest around 15 years ago, with the first books on the subject being published shortly after the turn of the millennium. This is not to say that many of the various aspects of business associated with customer experience, such as loyalty and retention, were not already being practiced. This raises questions as to why marketing did not naturally evolve into what customer experience is today.

Customer Retention Tactics to Keep Customers Coming Back

LiveChat

You remember the hard work you put into finding the perfect customer. Yes, finding your first customers is incredibly difficult, but turning one-time buyers into return customers isn’t nearly as hard. 4 Main Tenets of Customer Retention.

24 Experts Reveal Their Top Customer Retention Strategies For B2C Brands

Storyminers

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? We decided to ask experts one question: What is your most effective customer retention strategy for B2C brands? . VP of Customer Experience, Compellon. Stop trying to “satisfy” customers.

8 Reasons why customer retention is more important than acquisition

Andrew Mcfarland

Guest Post Feedback Loyalty Profit Reputation Retention WOM(Guest post written by Mark Johnson, a marketing consultant with a degree in business and a passion for helping companies achieve their ambitions.)

The Critical Role of Customer Support in Customer Retention and Customer Relationships

Win the Customer

Competing to win customers today means not only keeping up with major brands in your industry but also staying ahead of new emerging service providers. Customer Experience Customer Service

Build Revenue with These Proven Customer Retention Strategies

Joe Rawlinson

Take a look at your most loyal customers. Forbes reports that most businesses find 20 percent of their most loyal customers actually make up 80 percent of their sales. Studies also back up the idea that retaining customers can positively impact your bottom line.

3 Ways to Boost Your Customer Retention Rate With Service

Win the Customer

Gartner research shows that by 2018, 70 percent of business-to-business ecommerce sites will offer customers personalized features, and sites effectively using personalization will outsell competitors by 30 percent. Improve Your Customer Experience. Track Customer Satisfaction.

4 Companies Using Social Media Customer Service Effectively for Customer Retention and Loyalty

Win the Customer

Social media may never become a traditional contact channel, but it''s still an effective tool for social engagement in customer service. Communication Customer Experience Customer Service Social Technology

A ‘Fresh’ Look At Customer Retention and Loyalty (Part I)

Maz Iqbal

Especially so when we get to customer-centricity, customer experience, customer loyalty… Whilst some folks can tell that Trump is talking nonsense, in the … Continue reading "A ‘Fresh’ Look At Customer Retention and Loyalty (Part I)". Customer Loyalty Uncategorized customer loyalty customer retention employee loyalty loyalty centred business strategic approach to loyalty

What makes the the worlds #1 Customer Experience brands?

ijgolding

As I quite literally travel the world talking, listening and working with individuals and organisations who have an interest in Customer Experience, I am regularly asked who the world’s ‘best’ Customer Experience brands are. Customer retention and loyalty CX Professionals CX Strategy # 1 Customer Experience Brands air new zealand Amazon apple bmw boden corporate attitude customer experience Disney First Direct John Lewis mercedes Starbucks

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What Is Customer Churn Rate and How You Can Reduce It Fast

Comm100

Is your customer churn rate burning a hole in your retention plan? When it comes down to it, most companies are losing far too many customers. Reichheld in the Harvard Business Review, the average company loses about half its customers in a fiver-year period.

A ‘Fresh’ Look at Customer Retention and Loyalty (Part II)

Maz Iqbal

The key points as I understand them are: You cannot have customer loyalty without cultivating employee loyalty and investor loyalty. So debates about which comes first (customers, employees, investors) shows that folks lack a fundamental grasp of that which we … Continue reading "A ‘Fresh’ Look at Customer Retention and Loyalty (Part II)". Let’s recap Part I of this conversation.

With customer experience design, functional is good. But don’t stop there – by Beth Richardson

ijgolding

“Focus on the whole journey, not just the transaction” In the world of Customer Experience (CX) you will hear this phrase frequently. The difference between a user story like the one above, and meeting a customer’s overall goal. Customers are human.

5 Ways to Engage and Understand At-Risk Customers

360Connext

Most organizations used to lump customers into 2 simple categories: New customers and “the rest of them.” New customer acquisition is often used to gauge success – the more we gain, the better we’re doing!

Moving customers from “cost center” to “asset”

Customer Bliss

Within my five-competency customer experience framework , I often call No. 1 — honor and manage customers as assets — the “clincher competency.” Can they contrast it with the value of lost customers? Highlight 1-2 referrals from existing customers.

Customer churn: The pipeline that shall save you

Customer Bliss

Customer churn is bad. In a perfect utopia, all your customers would stay in the fold, retain, and refer you to other new customers. That’s the apex of a customer-driven growth engine, and it’s essentially the polar opposite of customer churn.

Customer Experience: it goes both ways… or does it?!

ijgolding

In all honesty, my writing is very much inspired by my own experiences – either as a customer in my own right, or by interacting with the many people I have the good fortunate to interact with in practising my vocation! What do I want from my customers?

How NOT to ask for customer feedback: a shocking example from Sky TV

ijgolding

Having been involved in the world of Customer Experience for many years, nothing should really surprise me – I have very much witnessed the good, the bad and the ugly of business behaviour. Two days ago, my wife was asked to participate in a Sky customer feedback survey.

Post-Labor Day: Kill work stress, focus on CX

Customer Bliss

While companies still need to be productive and build their customer-driven growth engines, chances are a lot of your colleagues were out on vacation for chunks of the summer. How will you know if customers are responding to your organization and its products/services? For many U.S.

Thank You for Your Business

CX Journey

Image courtesy of hellojenuine How often do you say "thank you" to your customers? This makes me think of two things, both of which fall under the umbrella statement: Businesses need to appreciate the customers they have. (1) Appreciate the customer standing in front of you.

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Customer Service; Customer Experience; Customer Centricity – what is the difference between them?

ijgolding

It is difficult to deny that these three terms are becoming increasingly visible in the language of business: Customer Service. Customer Experience. Customer Centricity. Customer Services is NOT Customer Experience. So what is Customer Experience?

CUSTOMER CULTURE: How does it drive future business performance?

ijgolding

I have written many times about the subject of Customer Experience and the different opinions that people hold on whether it really does make a difference. They, like me, believe that the foundation of sustainable future business performance is based on a strong Customer Centric Culture.

HPE Software On How To Close The Loop & Drive Revenue Growth [Interview]

CustomerGauge

NPSBenchmarks.com is very excited to welcome back Dr. James Borderick, Head of Customer Experience Analytics at HPE Software, for the second part of our interview series with HPE Software. Customer Experience Interview NPS retention software close the loop customer retention growth interview

How to Embed a Customer Experience Framework 

ijgolding

In my exclusive column for CustomerThink in October 2016, I shared my ‘top tips’ for creating the right culture to enable an organisation to become genuinely customer centric. In my last column of 2016, I explored tip number 2 – how to embed a Customer Experience Framework.

Voice of the Customer: It’s Time for a Global Customer Experience Wakeup Call

ijgolding

I am privileged because a multitude of organisations welcome me in to their inner sanctum to help them in their quest to become more customer centric. Conclusion – get it wrong and it will stick in a customers mind for a long time… 2. Winning back a customer IS NOT EASY!

Customer Experience Commitment – 2016 Customer Centricity Research Findings

ijgolding

When it comes to the subject of Customer Experience, there are many questions I would like to know the answer to. So this year, I wanted to explore another aspect of Customer Experience that I find extremely interesting. ENABLE people to have a customer focused mindset.

The customer is not always right….BUT be careful how you respond when you think they are not!

ijgolding

Although you may not have heard of it, it is possible that the eatery will become infamous as an example of how NOT to respond to customer feedback. Communication Channels Customer retention and loyalty CX Strategy Recovery Social Media 47 King Street West 47 king street west tripadvisor customer experience customer feedback Easyjet Mike Hymanson TripAdvisor