The Value of a Lifetime Customer – 8 Call Center Software Capabilities that Can Help Build Loyalty

NICE inContact

Instead, imagine what features like new self-service capabilities, intelligent routing, and a unified agent interface could do for your customer lifetime value. Advantages of the Cloud Customer Experience

Measuring Customer Service Performance: Lifetime Customer Value

CSM Magazine

Don’t we all wish that customers came with a lifetime guarantee? In that perfect world, customer retention would be at 100% and customer turnover would be zero. Since that’s not the world we live in, customers need to experience prompt and dedicated attention at every major customer touch point. Can Any One Contact Center KPI Boost Customer Lifespan? There is no one contact center KPI that can totally predict a given customer lifespan.

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Can You Afford NOT to Offer a Lifetime Customer Experience Warranty?

Wired and Dangerous

Lifetime warranties are a common feature of the product world. Lifetime warranties, as opposed to limited warranties, are designed to be bold statement communicating confidence in a product. What would a lifetime warranty look like for a customer service experience? Customers today have changed. Forty four percent of customers stop doing business immediately after a less than satisfactory experience and another 15% exit as soon as their contract is up!

4 Ways To Preserve Customer Loyalty When Call Volume Spikes [SlideShare]

BlueOcean

From extreme weather to product recalls, there’s an infinite number of scenarios that will flood your contact center in an instant, resulting in increased average handle times, wait times, and customer frustration. To preserve customer loyalty and sustain healthy CSAT scores, your contact center partner needs to have the right systems and safety nets in place. 4 Ways To Preserve Customer Loyalty When Call Volume Spikes from Blue Ocean Contact Centers.

Episode #2 – The ROI of Focusing on the Customer Experience - Transforming the Customer Experience

Kristina Evey

This episode focuses on the ROI of the Customer Experience using real world examples. Using the lifetime value of your customer is extremely important for everyone within your organization. If you don’t know your average lifetime customer value, I’ll walk you through how to determine that number here and what it can bring or cost your company. This episode focuses on the ROI of the Customer Experience using real world examples.

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4 C’s of CX Culture: How Well is Your Company Doing?

Experience Investigators by 360Connext

What is a Customer-First Culture, and Why is It Important? There are plenty of noble reasons for wanting to create great customer experiences. It’s a fact that delivering a great customer experience makes brands’ bottom lines brighter, too. The Ideal Customer Journey.

Top 3 Ways to Turn Customer Feedback into Customer Advocacy

AskNicely

Positive word-of-mouth, customers and clients who advocate for your products and services, customers who stay for life and tell everyone they know about your company — this is what all businesses strive to achieve. In fact, we all want the magic bullet that drives the customer advocacy growth flywheel. Why Customer Advocacy? Increase Revenue — Loyal customers spend 67% more than new customers. Reduce Churn — Loyal customers stay with you longer.

The True Cost of Losing a Customer

BlueOcean

One negative customer experience may seem like a drop in the ocean of all your customer interactions, but it’s never that simple. Consider these statistics from a recent survey from NewVoiceMedia: After experiencing poor customer service: • 37% of customers would change their supplier. • 28% would post a negative online review. • 26% would complain via social media. • 13% would tell friends/colleagues. • 10% would inform the media.

Is There a Place for Traditional Surveys in a World Ruled by Social Media?

CSM Magazine

Jason Grier, EVP and Chief Customer Officer at Reputation looks at the future of customer feedback surveys and how customer emotion is better captured on social media than by traditional survey forms. Even video is emerging on the customer-feedback scene.

What is Customer Lifetime Value and How to Calculate It

ChurnZero

Customer Lifetime Value (CLTV) , also known as, Lifetime Value (LTV), is the gross profit a customer delivers to your business in their lifetime. It is the amount of revenue your business will make from a customer over their average lifetime as a customer.

Are You Using 1999 Metrics to Measure 2019 Customer Care?

BlueOcean

Those metrics were born in an era when customer service was a race, where whoever got to the finish line first (i.e. off the phone) – upsetting the least number of hurdles, extra points for a graceful gait – was the champion, the most successful, the most likely to win “customer service agent of the year.”. How do we use that data to improve the customer experience? Changing this approach and perspective is the first step in becoming a brand that your customers love.

Demystifying customer experience

Customer Enthusiast

I was recently asked to clarify some service industry terminology that’s being used, often interchangeably, to describe customer experience. And since this is my blog, I’ll submit my own definitions: Customer service is a voluntary act that demonstrates a genuine desire to satisfy, if not delight, a customer. Customer experience (CX) is the product of any interaction between an organization and a customer. If the customer service quality was stellar (e.g.,

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To drive meaningful customer experience improvements, start with your why

Alida

Customer Experience (CX) is a messy space. Seasoned managers know that CX business cases can fall over despite listening intently to the voice of the customer. Tune into the C-suite, and you’ll hear different beliefs and drivers for being customer-centric: It’s about our moral obligation to treat customers as we want to be treated. It’s about loyalty economics: we can reduce churn and improve lifetime customer value. Customer Experience CX

Gratitude – Important for Independence Day and A True Measure of your Service Warmth*

Wired and Dangerous

It is always important and never more so than in today’s tough economy to make sure customers know unmistakably that you do not take them for granted. If all your customers exited tomorrow (which they certainly could), how well would you fare the day after tomorrow? Thanks means communicating gratitude in a fashion that makes customers feel your authenticity. Great customer service is not “rocket surgery!”

10 Things Every SaaS Business Should Know About Net Promoter Score

Wootric

Your colleagues in the SaaS world tell you that it’s the best way to take your customers’ pulse. It’s true that Net Promoter Score is a great way to engage with your customers and solicit tons of feedback. Here’s a look at how you can customize segments in Wootric.

Delivering Customer Experiences that deliver Value

CloudCherry

You might think that your business is delivering great experiences to customers, but are customers actually finding value in it? It tells you if you’re actually doing the right things, whether the initiatives you take impact the customer as well as your business in a positive way and also cut down on investments that aren’t delivering the expected returns. Merely investing in a Customer Experience Management tool doesn’t suffice. Customer Experience

Customer Experience vs Customer Success: What’s the Difference?

Totango

The way you feel as you travel versus when you arrive at your destination is a great metaphor for the distinction between customer experience vs. customer success. Customer experience refers to the feelings, emotions, and perceptions customers have when using your product. Customer success is ensuring the customer achieves value from your product. Customer success is focused on the result of the customer experience. .

Guest Blog: How Should You Grow and Sustain Your Customer Lifetime Value?

ShepHyken

This week we feature an article by Lukas Sitar who writes about growing and sustaining customer lifetime value for the entire customer cycle. While many marketers look at metrics like conversion rates, net profit per sale, average value of a lead, and average customer order, they often overlook their customer lifetime value. But just what is customer lifetime value ? The challenge really lies in growing customer lifetime value.

Happy Holidays from Blue Ocean

BlueOcean

Thanks to emerging customer support channels like social media and live chat, as well as evolving technologies like speech recognition, there are more ways than ever for customers to initiate (and resolve) a service inquiry. And when they have options at their fingertips, customers are showing a growing preference for self-service options using automated IVRs, knowledge bases, or simply Googling a problem and solution.

Help Customers on the Support Journey and up the Loyalty Ladder

Kayako

Think about your ideal experience as a customer. When customer service is like that, you don’t think about excessive effort, and endless back and forth communications. Imagine a world where reply time, a pillar of customer support metrics, wasn’t the critical factor — but it was customer context? Why is context missing from customer support journeys? CEB found that 96% of customers who exert high effort to resolve their problems become disloyal.

When things go wrong, how should you make it up to your customers?

NewVoiceMedia

No company wants to fail their customers, but at some point it’s going to happen. You’re going to mess up, or bad luck will mess you up, or a supplier will mess you up in the eyes of your customer. So, no matter how superb your product or service is, eventually you’ll need to find an answer the following question: How should you compensate a customer for a service or product failure? Solving an issue with a customer isn’t about fairness or justice.

Meet your first wave speakers for Customer Success Summit 2018

Totango

Customer Success Summit brings together the best and brightest minds in Customer Success. Our world-class speaker lineup for 2018 Customer Success Summit will share the impressive business results that customer success best practices should deliver. VP, Global Head Digital Customer Engagement. She has successfully designed and implemented customer-focused initiatives and creative customer engagement programs across multiple sectors of technology.

Customer Engagement Solutions for the Customer-Centered Economy

Totango

Your customers should be your greatest obsession. The digital transformation of business has created a customer-centered economy built on subscriptions, personalized services, and new definitions of customer loyalty. Today, you need to understand what is going on behind your customer’s doors. You need to employ customer engagement solutions that let you know how your product is being consumed on a day-to-day basis. Defining Your Customer.

Five Ways to Create Customer Loyalty

ShepHyken

It’s been a while since I approached the topic of customer loyalty. All of the tips, ideas, tactics, and techniques I write about are about driving a better customer service experience, which can (and hopefully will) lead to customer loyalty. The concept of repeat business, and ultimately customer loyalty is huge. If when you take away the perks and the rewards, you may lose the customer, then what you really have is a marketing program.

What Now? 3 Steps for Taking a Post-COVID Approach to FSI Customer Engagement

Bold360

Branches will be open for business again, but the initial months of the pandemic served as a wake-up call about the need for FSIs to have digital-first customer engagement capabilities. Even before the pandemic, customers preferred the convenience of digital-first service provision.

Lessons Learned from the Frontlines of CX: Add Channels or Risk Becoming Irrelevant

Bold360

COVID-19 has utterly disrupted how customers and companies interact. We’ve witnessed dramatic, rapid shifts in preferred customer engagement channels at a time of social distancing and people working (and doing nearly everything else) from home. 3 Big Trends in Customer Engagement .

Delivering Customer Experiences that delivers Value

CloudCherry

You might think that your business is delivering great experiences to customers, but are customers actually finding value in it? It tells you if you’re actually doing the right things, whether the initiatives you take impact the customer as well as your business in a positive way and also cut down on investments that aren’t delivering the expected returns. Merely investing in a Customer Experience Management tool doesn’t suffice. Customer Experience

Episode 004 – It’s All About the Money - Transforming the Customer Experience

Kristina Evey

It’s 2018 now… that means that 89% of companies are aware of CX, what it is, and are trying to use it as the tipping point to gain customers. Back in 2015, customer relationships were ranked =THIRD of top challenges for CEOs, stated by AMA in 2016. 80% of businesses believe they provide “superior” customer service. But only 8% of their customers would describe the service they’ve received in such glowing terms. Not one of those had anything to do with customer service!

Episode 4 – It’s All About the Money - Transforming the Customer Experience

Kristina Evey

It’s 2018 now… that means that 89% of companies are aware of CX, what it is, and are trying to use it as the tipping point to gain customers. Back in 2015, customer relationships were ranked =THIRD of top challenges for CEOs, stated by AMA in 2016. 80% of businesses believe they provide “superior” customer service. But only 8% of their customers would describe the service they’ve received in such glowing terms. Not one of those had anything to do with customer service!

Guest Post: 5 Lessons Your Customer Service Team Can Learn From Disney

ShepHyken

She shares tips and tricks on how to create a Disney-like customer service experience. Delivering excellent customer service is an art. This era belongs to creating valuable and stellar experiences for the customers. Customer service is the most important aspect of any business.

Customer Success and Upsells: How to Make the Most of Opportunities

Totango

When your goal is to grow your customer’s business, upselling becomes a means, not an end. That’s the advantage of working within a customer-centric environment. Your success depends on your customer’s success, so expansion becomes a necessity for both parties. Upsells are the result of the growth a customer has enjoyed because of your commitment to delivering lifetime value. Customer success upsells are critical to your own success.

Escalation Management Framework Techniques to Put into Action Now

Totango

When operating within a customer-centered economy , maintaining client satisfaction is an absolute necessity—a fact that’s been made all the more true thanks to today’s increasingly digitized business landscape. Poor Customer Feedback . The escalation stage the customer is at: .

What is ‘Effective Customer Engagement Strategy’ in the Age of COVID-19?

Bold360

Customer experience (CX) is fast overtaking price and product as a key brand differentiator. Companies are scrambling to keep pace with the shifts in customer behavior since the outbreak of COVID-19. Offer channels your customers want and now need. good customer service).

CX Now: What Is Natural Language Processing (NLP) and Why Is It More Important Than Ever?

Bold360

As the COVID-19 global pandemic continues, customer experience (CX) is experiencing a double-whammy. On the customer side, there’s a higher volume of need and more urgency around getting those needs met fast.

Churn Signals to Watch For: Non-Transactional Elements

Optimove

Predicting when a customer is about to leave is certainly not an easy job. But with the ability of marketers to identify “churn signals” before it’s too late, they can proactively communicate with customers, send them relevant offers, and entice them in various ways to remain active.

What are the Benefits of Customer-Centricity?

Totango

Imagine if you could give your customers that “day 1” feeling of excitement and potential throughout the entire customer journey. That’s the goal Amazon CEO Jeff Bezos has for his customers. In his 2016 letter to Amazon shareholders , Bezos describes the preservation of this day 1 feeling as the biggest driver for pursuing a customer-centric approach. He believes customers desire “something better” and that your business needs to provide that kind of continued value.

Redefining Customer and Employee Engagement During COVID-19: How Chatbots Can Help

Bold360

The ongoing COVID-19 pandemic is having massive impacts on how companies engage with their customers and employees. No matter how the crisis evolves, customers and employees still expect to receive a high level of service that’s responsive to their needs.