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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. Here are 40 customer retention statistics that reinforce the growing need for customer experience management.

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When Should You Start Measuring Net Promoter Score?

Retently

They’re also closely linked to each other: customers who like your product enough to keep using it are the most likely to recommend it to their peers. What we haven’t discussed is when you should start using Net Promoter Score ®. When should your company begin to pay attention to customer sentiment?

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A to Z Guide to Customer Experience Definitions and Terms (Updated)

Lumoa

Our A to Z Guide to Customer Experience Definitions and Terms covers everything you need to know, from clear definitions of key terms to a comprehensive overview of the topic. Customer Engagement Customer engagement is a term used to refer to customer interactions with a company, product, or service.

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What Do Companies with High Net Promoter Score Have in Common?

Retently

Does your company retain its customers or take them for granted? Customer retention is one of the most important aspects of growing your company, yet it’s one that many companies overlook, focusing more on acquiring new customers. After all, brands with high customer retention are usually companies with high NPS score.

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5 Things Great CEOs Understand About Customer Experience

Experience Investigators by 360Connext

Your CEO understands how important customer experience is to the success of your organization. They invest in resources to provide great experiences because they understand the immense return they get on those investments, right? . Better yet, ask your CEO to help lead communication around customer experience efforts in regular ways.

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4 reasons Net Promoter Score (NPS) matters to product management teams

delighted

How do they know if their customers are truly happy with their product and have a good experience? For many, the answer is Net Promoter Score, or NPS for short. Some say Net Promoter Score (NPS) is the “gold standard” customer experience metric, while others debate its merits, citing its simplistic formula.

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How to Systematically Decrease Customer Churn

GetFeedback

Our best customers are the ones who stay with us. The proof is in the numbers: a 5% increase in customer retention can lead to a 25-95% increase in profits , according to a Harvard Business School study. If you’re looking for general, quick-fix tactics to improve your customer service, prepare to be disappointed.