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Customer Acquisition Vs. Customer Retention: Which Aspect Should You Focus On More

CSM Magazine

Customer acquisition and customer retention are two vital aspects of business growth, each playing a unique role in ensuring the long-term success of a company. Understanding Customer Acquisition and Customer Retention Customer acquisition involves attracting prospects to a business and converting them into paying customers.

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How Market Segmentation Can Be Used to Improve the Customer Experience

InMoment XI

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
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Struggling to Prove the ROI of Customer Experience? You Could Be Missing These 3 Keys to Success

InMoment XI

More than ever before, proving the ROI of customer experience is absolutely vital. Businesses are under pressure (amidst the Year of the Squeeze, declining employee retention, etc.) And, unfortunately, customer experience programs may fall on the chopping block. 3 Keys to Prove the ROI of Customer Experience.

ROI 557
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4 Keys to Transforming Your CX Program to an ROI-Focused, Revenue Generating Machine

InMoment XI

And due to these conditions, businesses need to justify the return on investment (ROI) for every initiative—including their customer experience (CX) program. Unsurprisingly, the answers were return on investment, finding budget space, and enabling stakeholder buy-in. and compiled them into a report.

ROI 493
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3 Tips for Insurance CX Programs Looking to Collect Valuable CX Data

InMoment XI

Insurance brands have a unique set of challenges to overcome in order to find the valuable customer experience (CX) data they need to improve experiences. Insurance customers are buying into a long-term relationship, which means building brand trust is extremely important to keep customer retention rates high.

Insurance 493
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18 Ways to create a more effective Customer Retention Strategy

One Millimeter Mindset

These 18 ways create a more effective customer retention strategy. Or a sales engineering professional, a customer service professional, or any other professional engaged in acquiring and retaining customers. It is simply too short-sighted for any worthwhile return on investment to happen. That is all.

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Philadelphia Insurance Realizes VoC Return on Investment

Confirmit

" — Seth Hall , VP Customer Service. Philadelphia Insurance partnered with Confirmit to design and implement a Voice of the Customer (VoC) program to enable the insurer to gain a line of sight into every part of the customer lifecycle. Customer feedback translates into real changes. ” Says Hall.