Totango

AUGUST 16, 2022

Customer Retention Software Cuts Down Client Churn. Customer retention software has become essential for effective SaaS customer success strategies. A winning SaaS business model must prioritize retaining customers, which is far more cost-efficient than acquiring new clients to offset churn.

Customer Retention 100

Customer Retention Software Customer Success CRM 100

InMoment XI

MAY 4, 2023

As in previous cycles of historical uncertainty and downturns, these increased headwinds across the globe mean customers and companies are behaving differently. So, how can CX leaders and their teams best navigate customer experience in such challenging times?

Strategy 295

Strategy Customer Experience How To Loyalty Programs 295

TechSee

JANUARY 7, 2020

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. Acquisition costs far outweigh those of keeping current customers, further motivating companies to implement innovative strategies to boost customer retention in the telecom industry.

Customer Retention 136

Customer Retention Industry Telecommunications Effort Score 136

Totango

APRIL 30, 2021

Comparing the cost of customer retention versus customer acquisition underscores why retaining clients is so important. Here’s how to calculate both kinds of costs and why retention should form part of a profitable business strategy. Calculating the Cost of Customer Acquisition.

Customer Retention 63

Customer Retention How To Social Media Advertising 63

Experience Investigators by 360Connext

OCTOBER 17, 2023

And yet, leadership buy-in is a critical part of customer experience success. Here are some strategies to gain leadership buy-in for customer experience, the importance of measuring CX performance, and how to effectively communicate the business case for CX transformation. Use some storytelling techniques here, too.

Leadership 259

Leadership Customer Experience Customer Centricity How To 259

Lumoa

AUGUST 8, 2023

By understanding the key insights hidden within your survey data, you can address specific customer concerns, tailor your products and services to meet their needs and stay ahead of the competition. This shows the tangible, bottom-line benefits of listening to your customers. How often do you buy travel tickets?

Analysis 208

Analysis Survey Feedback How To 208

Magellan Solutions

APRIL 8, 2024

Accountability – By taking full responsibility for the problem, you show the customer you are committed to making things right, which helps build trust. De-escalation – A genuine apology can calm the customer and create an inviting environment for finding a solution with the representative’s help.

Tips 52

Tips Examples How To Customer Service Representative 52

Help Scout

MAY 12, 2021

In this article, we discuss the role of support teams in retaining customers and show how to combine high-quality, empathetic customer service with a deliberate focus on business growth. What is customer retention and how is it measured? 15 practical ways customer service teams can improve retention.

Customer Retention 115

Customer Retention Effort Score Self Service Measurement 115

SurveySensum

SEPTEMBER 21, 2023

This strategic move resulted in doubling their business, showcasing the power of leveraging customer retention to drive growth. Well, acquiring new customers can costs you five times more than keeping the ones you have. So, customer retention is indeed crucial. What is the Customer Retention Rate?

Customer Retention 52

Customer Retention Strategy Gamification Loyalty Programs 52

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

ReviewTrackers

MARCH 24, 2021

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. According to Kantar , banks that lead in the customer experience index have a recommendation rate that is 1.9 times higher, and their customers are 2.1

Customer Retention 123

Customer Retention Banking Customer Experience Strategy 123

ProProfs Chat

APRIL 25, 2019

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. Offer Customers Testimonials and Use Cases During the Sales Process.

Customer Retention 66

Customer Retention Net Promoter Score How To Social Media 66

InMoment XI

JUNE 14, 2022

Companies like DocuSign, Slack, Zoom, and Hubspot are examples of SaaS companies that are thriving in the End User Era. How do you know where your bottlenecks are, and whether you are eliminating them? For detailed information on how to calculate NPS, and what the number really means, take a look at our Net Promoter Score post.

Metrics 260

Metrics Net Promoter Score Effort Score NPS 260

Totango

JANUARY 26, 2021

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. What Is Churn Rate and How Does It Relate to Customer Retention? To do a churn analysis, first segment customers who have churned.

Customer Retention 89

Customer Retention e-support Analysis Customers 89

ProProfs Chat

JUNE 21, 2019

Do you have a customer retention strategy? Companies focus on customer acquisition strategies, since increasing your customer count is the lifeblood of your business. But, customer acquisition won’t help, if you are unable to retain customers. Understand Customer Retention.

Customer Retention 63

Customer Retention Strategy How To Case Study 63

Totango

FEBRUARY 9, 2022

The contract renewal stage of the customer lifecycle is a critical component of driving retention for SaaS products. Knowing how to use technology to optimize your contract renewal process can increase your retention rates and your revenue. Then, we’ll look at the pros and cons of contract renewal automation.

Customer Retention 94

Customer Retention Tools Software Financial 94

Lumoa

JANUARY 19, 2023

Here’s your ultimate guide on how to build a customer experience department. Map Your Current Customer Journey 3. Decide When and How to Collect Data and Feedback 4. And it will make it easier to build strong relationships and a strong culture of customer centricity. In This Article: Preliminary Steps 1.

Customer Experience 236

Customer Experience Net Promoter Score How To Customer Journeys 236

Totango

MAY 14, 2021

Customer retention is the keystone in any customer success strategy. There are many different types of customer retention metrics that one can track. Which customer retention metrics have the biggest impact on your business? Here are five of the most important ones and how to calculate them.

Customer Retention 65

Customer Retention Metrics Effort Score Net Promoter Score 65

Totango

OCTOBER 2, 2020

Equipped with the knowledge provided by customer data, you can help your customer survive tough times by offering practical solutions that add value and ultimately contribute to customer retention during economic downturns — even ones caused by a pandemic. Customer Retention Is Your Future.

Customer Retention 118

Customer Retention Effort Score Customers Resources 118

Feedbackly

SEPTEMBER 22, 2023

Here are some tips on how to select the best CX KPIs for your brand! Consider what aspects of customer experience are more critical for your brand and integrate relevant KPIs accordingly. Here, metrics like EVI®, NPS, and customer retention are essential. But do you need everything?

Net Promoter Score 98

Net Promoter Score Effort Score How To Abandon Rate 98

Lumoa

FEBRUARY 16, 2023

It will help you gather valuable feedback, identify customer pain points, and work towards better solutions. This article will explain what VoC is, how to use it, and tips on creating your own voice of customer template for your business. In This Article: What is Voice of Customer(VoC) and Why Is It Important?

Voice of Customer 236

Voice of Customer How To Feedback Return on Investment 236

Wootric CX Blog

DECEMBER 16, 2020

Not only do returning customers require less introduction to your products and services, but they also tend to spend more than first-time customers, too. . One user engagement strategy you can use to boost your customer retention is to make use of the Net Promoter Score (NPS) system. Make sure it’s accurate.

Net Promoter Score 52

Net Promoter Score Customer Retention How To NPS 52

BirdEye

JUNE 21, 2023

So, a well-executed customer referral program can be a powerful and cost-effective marketing strategy to attract new customers and improve customer retention rates. Customer referrals can also boost your credibility, optimize your sales cycle, and keep high-value customers engaged.

Examples 93

Examples Social Media Travel Software 93

SurveySensum

DECEMBER 22, 2022

And yet, it has the most loyal customer base. . – Well, one thing that Zara does is, it knows what to focus on and how to make its customers happy. That’s why they take customer feedback SERIOUSLY. . Voice of Customer (VOC) – Brief. How can you improve customer retention with VOC program? .

Customer Retention 52

Customer Retention Customer Success Loyalty Programs Social Media 52

SurveySensum

NOVEMBER 21, 2023

Do you know how to identify and resolve user experience issues on your website? Let’s find it out right here along with website feedback form examples. NPS Form An NPS form measures how likely users are to recommend your website to others. With website feedback forms. However, there are different types of website feedback forms.

Examples 52

Examples Feedback Effort Score NPS 52

Solvvy

MAY 6, 2021

And while customer support agents are indispensable players in any organization, they simply cannot do it all. Thankfully, agents and support leaders have an ally – next-gen chatbot and automation platforms provide help agents and improve customer retention rate at the same time. Support agents need support, too!

Customer Retention 48

Customer Retention Chatbots How To Self Service 48

Comm100

OCTOBER 8, 2016

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.

Customer Retention 151

Customer Retention Loyalty Strategy Loyalty Programs 151

InMoment XI

SEPTEMBER 1, 2022

There is something to be said about how vital it is to leverage market research to understand your non-buyers so you can convert them into customers. But focusing on how to improve customer retention is just as important, if not more. That is why your customer retention efforts are so important.

Customer Retention 260

Customer Retention How To Customer Journeys Telecommunications 260

Lumoa

OCTOBER 20, 2022

Companies that rank the highest in customer experience surveys also have the highest scores for customer retention. This is because happy customers are less likely to churn and more likely to continue doing business with you. Another benefit of excellent customer experiences is improved customer retention.

Customer Experience 305

Customer Experience Banking Customer Retention Customer Satisfaction 305

Thematic

DECEMBER 5, 2018

Today, it’s more about offering customers something as personalized as possible, so that they feel truly special. So, let’s look at ways to reduce churn with customer retention analytics and why it’s important in the first place. What is customer retention? Why is customer retention important?

Customer Retention 96

Customer Retention Analytics Data Strategy 96

Totango

JULY 11, 2019

Time and money that could have been saved—if you’d focused on customer retention. New customer acquisition costs a lot. To learn how much you’re spending, add up all of your sales and marketing expenses and divide that amount by the number of new customers won. The Importance of Customer Retention.

Customer Retention 63

Customer Retention Advertising Social Media Customers 63

Totango

FEBRUARY 10, 2021

A customer success strategy is a proactive plan for guiding your clients to outcomes that satisfy their needs. When your customers enjoy more value, your product adoption rates rise and customer retention rates go up. This promotes success for your company as well as your customers.

Customer Retention 85

Customer Retention Customer Journeys Customer Success Strategy 85

ReviewTrackers

MARCH 22, 2019

Customer retention in the insurance industry is important to reducing churn, which prevents billions of dollars lost in revenue. What’s worse than losing billions in revenue is the amount that insurers have to pay to acquire new customers. Reduce Customer Retention by Offering More than Insurance.

Insurance 50

Insurance Customer Retention Industry How To 50

Totango

JULY 11, 2019

Time and money that could have been saved—if you’d focused on customer retention. New customer acquisition costs a lot. To learn how much you’re spending, add up all of your sales and marketing expenses and divide that amount by the number of new customers won. The Importance of Customer Retention.

Customer Retention 61

Customer Retention Advertising Social Media Customers 61

Comm100

JANUARY 19, 2017

When our customers are unsatisfied with an interaction with or a purchase from our company, the best thing that we can do is apologize to them. Here are some examples of apology letters for poor service, so that you will know what to do should your business need to respond to a similar situation. Sincerely, Ashley W.

Examples 221

Examples Customer Service Representative Customers Customer Service 221

Lumoa

MAY 19, 2020

Let’s take this framework and apply it to a hypothetical business case for a robust customer experience program. In the example below, we’ve done some research that you can leverage in your own business case. For example, implementing a new checkout page may take 40 hours, but improve average cart size by 10%. Explore options.

How To 259

How To Multi-Channel Return on Investment Strategy 259