Totango

AUGUST 29, 2019

Your customers are your enterprise’s life’s blood. When you get a new customer, work to retain them and grow customer lifetime value. While the sales team will always be looking for new customers, retaining a current customer is far cheaper than finding a new customer to replace them. Why Retention Matters.

Customer Retention 87

Customer Retention Strategy Customer Journeys Customer Centricity 87

One Millimeter Mindset

JANUARY 19, 2022

Surprised to enter 2022 digging yourself out of a huge 2021 customer defection hole? It just could be you left your entire client retention strategy up to the virtual customer retention dog. What excuses do you make to your managers about your less-than-stellar rate of customer retention?

Customer Retention 99

Customer Retention Touchpoint Customers Sales 99

Magellan Solutions

AUGUST 17, 2020

With all the advertisements people see on the internet every day, customers can easily jump from your brand to another if you don’t have strong customer retention strategies. . To make your business thrive, you need to take care of one of the most important assets — your customers. What is Customer Retention?

Customer Retention 52

Customer Retention Strategy Loyalty Exceptional Customer Service 52

Experience Investigators by 360Connext

APRIL 23, 2024

The landscape of consumer expectations is constantly evolving, and understanding the value of customer experience has emerged as a cornerstone for businesses aiming to sustain growth and maintain a competitive advantage. But today’s C-Suite is still questioning the value of customer experience and asking if investing in CX is worth it.

ROI 260

ROI CEM Net Promoter Score Customer Experience 260

ReviewTrackers

MARCH 31, 2021

Improving customer retention can prevent billions of dollars of lost revenue in the insurance industry. What’s worse than losing billions in revenue is the amount that insurers have to pay to acquire new customers. According to Hubspot, the insurance industry is tied for the third-highest customer acquisition cost at $303.

Insurance 123

Insurance Customer Retention Industry How To 123

Storyminers

JULY 29, 2016

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. Annette Franz.

B2C 124

B2C Customer Retention Strategy Brands 124

InMoment XI

FEBRUARY 24, 2022

Oftentimes, the c-suite and the customer experience (CX) or customer success team live on the same planet, but almost in separate countries—they simply speak different languages. We know that customer experience can be a tough sell—after all, your business has so many priorities! And it doesn’t have to stop at just customers.

Tips 493

Tips ROI Metrics Touchpoint 493

TechSee

OCTOBER 15, 2019

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. Vulnerable – customers who are waiting for a better offer.

Customer Retention 107

Customer Retention Social Media Airlines Groups 107

InMoment XI

FEBRUARY 23, 2024

It’s crucial that brands understand the experiences they provide and whether or not they satisfy the needs of customers, employees, and beyond. Hopefully, your business has more than one customer. If not, that’s okay because market segmentation isn’t primarily concerned with how many customers you have.

Marketing 260

Marketing Customer Experience Return on Investment Analysis 260

Totango

APRIL 24, 2020

In customer retention, every engagement counts. Rather, customer retention for SaaS enterprises is a result of the customer experience. It is an outcome based on an emotional reaction and connection to the performance of a supplier and the value a customer experiences through using that enterprise’s product.

Customer Retention 83

Customer Retention Software Customers Customer Journeys 83

One Millimeter Mindset

JULY 4, 2019

What is your current customer retention strategy value? Do you still depend on what worked Yesterday, and hope that strategy will keep you viable and sustainable Today and Tomorrow? I offer these five customer retention strategy value blog posts for your reading pleasure. So do your customers.

Customer Retention 59

Customer Retention Strategy Customers Technology 59

Totango

JANUARY 26, 2021

Being proactive about churn prevention provides an antidote to customer attrition. Utilizing technology makes it one of the easiest ways to keep more customers. Read on to learn what churn is, how an attrition analysis can help you pinpoint why you’re losing customers, and what steps you can take to prevent customer churn.

Customer Retention 89

Customer Retention e-support Analysis Customers 89

BirdEye

JULY 5, 2023

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. And that is done with relationship marketing. Why does relationship marketing work?

Examples 98

Examples Strategy Marketing Social Media 98

Education Services Group

SEPTEMBER 4, 2018

Usage metrics are critical indicators of how well your products are helping customers achieve their desired outcomes, which in turn influences your customer retention strategy. If usage is low, odds are that your customer sees little if any value in your solution. Your Customer Retention Strategy Relies on CSMs!

Customer Retention 49

Customer Retention Measurement Strategy Management 49

ClientSuccess

JUNE 19, 2019

If you think retaining an existing customer is expensive and unnecessary, try acquiring a new one. Adding credibility to this statement is a research study by Invesp Consulting which suggests: Existing customers are 50% more likely to try new products and spend 31% more than new users! Personalized Offers Lead to Loyal Customers.

Customer Retention 73

Customer Retention Strategy e-support Loyalty 73

InMoment XI

FEBRUARY 1, 2023

Oftentimes, CX practitioners will discuss the best reporting position for a core CX team to give an organization the best chance for Customer Experience (CX) success. Without that organizational freedom and neutrality, the team’s efforts are already handcuffed and chances of CX success are greatly diminished.

Customer Experience 260

Customer Experience Chief Customer Officer Report Culture 260

Totango

MAY 1, 2020

Customers are the building blocks of enterprise. Retaining existing customers is especially important during uncertain economic times, when fewer new customers may be signing on with your service. That’s why customer retention management software is a vital component of your retention strategy.

Customer Retention 62

Customer Retention Software Management Analysis 62

Magellan Solutions

AUGUST 16, 2023

Studies show that winning new customers is 5x more costly than keeping them. Show your care for customers differently and make them feel you treasure their business efforts. If your goal is to keep 80 percent of your present customer base and launch a strategy that improves it to 90 percent, your business achieves 10 percent growth.

Strategy 52

Strategy e-support Call Center Loyalty 52

Totango

DECEMBER 10, 2019

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. . How to Increase Customer Retention for B2B Companies .

Customer Retention 64

Customer Retention B2B How To Trends 64

Experience Investigators by 360Connext

OCTOBER 17, 2023

I speak with customer experience professionals every day. Some of them have fancy, customer-focused titles like Chief Customer Officer or Vice President of Customer Experience. Others have more common org chart regulars, like Chief Marketing Officer or Voice fo the Customer (VoC) Director.

Leadership 259

Leadership Customer Experience Customer Centricity How To 259

Totango

OCTOBER 8, 2020

Customer retention is the continuation of a valued service. In B2B terms, it is still possible to maintain your customer relationship and even improve customer retention during uncertainty, but you will need to focus on five key steps: Understand Your Customer. Listen to Your Voice of Customer Programs.

Customer Retention 63

Customer Retention How To Customer Success B2B 63

Kapta Customer Success

AUGUST 14, 2023

Greg Daines of ChurnRX gave a fascinating presentation at KAMCon 2023 titled, " Building Account Strategy On The 3 Laws of Retention." He shared some of his churn research results and revealed how we can overcome the obstacles to customer retention so we can minimize customer churn.

Strategy 52

Strategy Customer Retention Customers Customer Success 52

ChurnZero

DECEMBER 17, 2021

Customer acquisition and customer retention are cornerstones of building and maintaining revenue, but customer expansion — and a robust customer expansion strategy — can also be pillars of success. What is a Customer Expansion Strategy ? What is a Customer Expansion Strategy ?

Strategy 98

Strategy Management How To Customer Retention 98

Customer Bliss

SEPTEMBER 13, 2018

In my recent vlog, Jeanne’s Daily Dose…Of Reality , I discuss the importance of customer journey mapping and how you can use it to break down silos and unite your leadership team. First, we’ll hear from Kathy Tobiasen , the Vice President of Customer Experience at The Nature’s Bounty Company.

Customer Journeys 178

Customer Journeys Leadership Tools Customer Retention 178

SurveySensum

JULY 12, 2019

Customer experience management is crucial for your business. In fact, if you ignore the significance of great customer experience in your business operations then you might have to pay a price by losing your customers. A research by Gartner claimed 80% of your future revenue comes from 20% of current customers.

Customer Retention 68

Customer Retention Customer Experience Management Customer Experience Management 68

SurveySparrow

FEBRUARY 5, 2021

To our surprise, over 85% gave “customer retention” as their answer. Yes, they all stated the pandemic disrupted their customer network and retaining them became an enormous problem. And in between all that, businesses started losing customers, that too the loyal ones. Customer Retention Tip: Do Whatever It Takes!

Customer Retention 52

Customer Retention How To Social Media Customers 52

CSM Magazine

APRIL 15, 2020

Yes, it is great that you managed to get one more client to your business’s portfolio, but you should also focus on retaining that customer. Customers that remain loyal to your business will bring in other clients. Retaining your customers can help your business grow and, above all, it will boost its reputation.

Customer Retention 52

Customer Retention Social Media Strategy Advertising 52

ClientSuccess

JANUARY 25, 2021

For most customer success departments, the internal department you work closest with and most often is definitely sales. This is all to say that while working closely with sales departments comes naturally to most CSMs, bringing in other departments – such as marketing – can sometimes leave both customers and internal teams wanting more.

Customer Retention 81

Customer Retention Customer Success Marketing Case Study 81

Kustomer

MAY 13, 2022

It may be a well-worn cliche, but “customer is king” still rings true, and there are versions in nearly every language (though we think the Japanese version: ‘okyakusama wa kamisama desu’ — the customer is a god — may be going a little too far). Placing the customer in at the center of a business is an essential part of success. .

Feedback 98

Feedback Strategy Social Media CRM 98

ShepHyken

SEPTEMBER 4, 2023

Each week, I read many customer service and customer experience articles from various resources. Elevating Customer Experience: Embracing Hospitality as the Foundation by Charles Ryan Minton (Newsweek) When it comes to providing exceptional customer experiences, few industries excel quite like the hotel business.

Customer Service 67

Customer Service Hospitality Hotels Customer Retention 67

BirdEye

MAY 15, 2023

Do you want to create an engaging and memorable customer experience? If so, then developing a strong brand strategy is essential. A well-crafted brand strategy can help your business stand out from the competition, allowing it to reach its full potential. Table of contents What is brand strategy?

Brands 98

Brands Strategy Social Media Communication 98

Totango

FEBRUARY 28, 2020

We all want to believe that we have a strong relationship with our customers. The digitization of business has created a customer-centric economy, and people switch services until they find the solution that suits them. Creating a strong customer engagement strategy makes sure every interaction delivers that value.

Customer Engagement 93

Customer Engagement Engagement Strategy Touchpoint 93

Lumoa

AUGUST 8, 2023

Effectively analyzing survey results can provide numerous benefits, such as enhanced customer satisfaction, increased sales, and improved brand loyalty. So, if you’re ready to transform your customer feedback into a driving force for positive change, dive into this article and learn how to make the most of your customer surveys!

Analysis 208

Analysis Survey Feedback How To 208

CSM Magazine

NOVEMBER 10, 2023

To attract new customers and maintain a positive reputation, new entrants to many industries must pay close attention to the number of positive reviews they can earn. It’s important to note that individuals who have negative experiences are far more likely to write a scathing review than happy customers are to write a positive one.

Strategy 52

Strategy Feedback Consumers Customers 52

Totango

FEBRUARY 7, 2019

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. It’s a customer-centered approach that reflects the broader economy we currently operate under, one where the customer expects individualized treatment.

Customer Retention 81

Customer Retention Lifetime Customer Customers Engagement 81

Totango

SEPTEMBER 24, 2019

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.

Customer Retention 59

Customer Retention Sales Customer Success Software 59

Optimove

JUNE 22, 2020

Customer-centric retail brands looking to provide personalized customer experiences across all marketing channels know that it is crucial to test and optimize consistently. This brand reduced CAC by 75% and customer churn by 32%, all while increasing average customer LTV by 12%. How’d they do it, you ask?

Customer Retention 52

Customer Retention Loyalty Data Loyalty Programs 52