ChurnZero

MAY 5, 2020

As businesses are thrust into uncharted territory, figuring out how to navigate customer retention strategies to minimize churn will determine their survival. For those who were unable to attend or would like a session refresher, below are the top takeaways for crafting your customer retention game plan. .

Customer Retention 72

Customer Retention Chief Customer Officer Customer Success Events 72

ProProfs Chat

FEBRUARY 22, 2019

A Forrester report highlights increasing customer retention by 5% can increase profits by up to 95%. Loyal customers spend about 30% more with brands than new customers. An investment to increase retention by 5% is surely a worthy business investment. Simple formula: Customer Retention = Engagement + Investment.

Customer Retention 82

Customer Retention Engagement Rewards Programs Loyalty Programs 82

ClientSuccess

MARCH 20, 2019

In this blog, I will cover the 4 high-level categories of customer success metrics. These categories were developed by 100 of the top customer success leaders during a session at the CS100 Summit —the number one leadership conference for customer success leaders. Revenue Retention Rate (Gross & Net).

Metrics 61

Metrics Customer Success Measurement Net Promoter Score 61

Wootric

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. What do these categories mean?

Net Promoter Score 52

Net Promoter Score Customer Retention NPS Social Media 52

InMoment XI

MARCH 25, 2024

Organizations should take a closer look at predictive analytics examples to discover the myriad of ways that data and artificial intelligence (AI) can power more personalized customer experiences and enhance brand loyalty and customer retention. It’s an opportunity that your company can capitalize on today.

Customer Experience 260

Customer Experience Social Media E Commerce Retail 260

InMoment XI

FEBRUARY 24, 2022

At InMoment, we start with an approach we like to call the “Solving for X:” take your executives through your business objectives and what you’re truly trying to solve for customers. Then put it under categories like customer acquisition, customer retention, cross-sell and up-sell, cross-savings, etc.

Metrics 493

Metrics ROI Presentation Webinar 493

ProProfs Chat

APRIL 12, 2019

A loyal customer base is the cornerstone for any successful business. More so for Software-as-a-Service (SaaS) companies since acquiring new customers on a B2B level is much more difficult. This makes customer retention a necessity for SaaS-based companies. The second category consists of 7-8 ratings.

Net Promoter Score 80

Net Promoter Score Customer Retention NPS Reference 80

ReviewTrackers

JUNE 22, 2018

Fortunately, social media allows you a direct way to strengthen connections with your fans and repair your reputation with customers who may have had a less than stellar experience. As you build your customer retention strategy, make sure your social media team is doing these five things: Include online reviews in your social media strategy.

Social Media 56

Social Media Customer Retention 2018 Consumers 56

InMoment XI

JULY 4, 2022

Customer Acquisition: This comes from supporting the brand positioning and positive word of mouth. Customer Retention: Forrester research shows that a customer who receives a positive experience is 2.7x’s likely to remain with your brand as opposed to a customer who has had a negative experience.

ROI 493

ROI Return on Investment Social Media Measurement 493

Storyminers

JULY 29, 2016

We decided to ask experts one question: What is your most effective customer retention strategy for B2C brands? . VP of Customer Experience, Compellon. The most effective customer retention strategy is to focus, well, on retention. My number one customer retention strategy is talking to your customers.

B2C 49

B2C Customer Retention Brands Social Media 49

SurveySensum

JANUARY 4, 2024

Use Case: Mutual Fund Company The Challenge A prominent mutual fund company was on a mission to boost its customer retention rate by identifying issues in customer interactions. This helped them eliminate the manual work and generate detailed reports on customers’ challenges.

NPS 52

NPS Webinar Banking Demo 52

Retently

JULY 4, 2023

Sort feedback to learn what your clients like the most If you have an active base of more than 100 clients, you can sort their feedback into categories to learn what they love the most about your service. This is called “closing the loop” and it’s an essential aspect of customer retention.

Net Promoter Score 158

Net Promoter Score NPS Multi-Channel Feedback 158

Gainsight

FEBRUARY 7, 2024

As you can see below, Gainsight leads the category of Customer Success platforms in G2’s Winter 2024 Grid Report. Here’s a look at how G2 scored Gainsight in different categories, based on over 900 user reviews. In other words, they’re the gold standard for measuring excellence in the industry.

2024 52

2024 Roadmap Innovation Customer Success 52

Retently

AUGUST 23, 2022

Most NPS benchmark reports group businesses into broad categories. Small stores are placed in the same category as giants like Amazon, and regional airlines are grouped along with international carriers. Data shows that a 5% increase in customer retention can result in a 25% to 95% improvement in profit.

Net Promoter Score 148

Net Promoter Score NPS Measurement Customer Satisfaction 148

ShepHyken

MARCH 15, 2021

My Comment: Here is an interesting article – actually an interview – featuring Todd Hopkins, a successful franchisor, who recognizes the value of creating an excellent customer experience, or as he calls it, a “clean Experience.” How to Calculate Your Customer Retention Rate by Max Freedman.

Article 127

Article 2021 Customer Service Customer Service Training 127

SurveySensum

NOVEMBER 24, 2023

Your NPS score helps you gauge your customer loyalty and satisfaction with your product, service, and overall business success. A higher NPS score is associated with increased customer retention and long-term profitability, whereas a low score requires immediate action. Read a few comments, and figure out some categories.

NPS 52

NPS User Experience Demo Feedback 52

CSM Magazine

FEBRUARY 1, 2024

The lower your escalation rates are, the more effective you are at quickly dealing with customer complaints. Customer retention rates: This is one of the most important numbers in customer service, and is basically the number of customers you retain. These are just six examples of KPIs used in customer service.

Net Promoter Score 52

Net Promoter Score Social Media Rewards Programs Customer Retention 52

SurveySparrow

JULY 31, 2023

Let’s explore how it drives positive outcomes: Customer Satisfaction : By listening to your customers, addressing their concerns, and incorporating their feedback into your products and services, you boost customer satisfaction. ” The NPS question focuses on customer loyalty and advocacy.

Voice of Customer 52

Voice of Customer Customer Success Net Promoter Score Social Media 52

Totango

NOVEMBER 8, 2023

Enterprise businesses can now use their critical product usage data from Pendo and Mixpanel in their Totango experience to design optimal customer journeys, improving product adoption and customer retention.

Customer Retention 91

Customer Retention Customer Success Events Customer Journey 91

Totango

MAY 19, 2021

These sites allow you to narrow down your search by categories like price, location, home type, number of bedrooms and bathrooms, etc. Customer 360. Customer Retention. Customer Journey Orchestration. The six categories should all add up to a score of 100. Segmentation and Personalization.

Customer Success 106

Customer Success Customer Retention 2021 Customers 106

Retently

MARCH 18, 2024

Service survey questions effectively uncover customer expectations, allowing businesses to assess whether they are successfully meeting these benchmarks. Moreover, engaging customers directly for their feedback confirms that their input is valued, which can lead to improved loyalty and higher customer retention rates.

Customer Service 139

Customer Service Net Promoter Score Customer Service Representative NPS 139

Retently

JULY 11, 2022

In many cases one little mistake or inconsistency is enough for a Passive customer to become a Detractor, which ultimately will negatively impact your numbers. . Generally, you cannot entirely avoid churn, but by emphasizing and constantly increasing the value of your product you can persuade at-risk customers to change their mind.

NPS 158

NPS Net Promoter Score Customer Satisfaction Metrics 158

ShepHyken

SEPTEMBER 10, 2023

” I’m intrigued by the article as it claims that one way to attract and retain these customers is through visual imagery. This week, she featured a list of excellent customer service books separated into categories. These are what McKinsey refers to as the “Zero Consumer.”

Article 78

Article 2023 2028 Customer Service 78

ShepHyken

APRIL 26, 2021

One of the main points is that customer service is becoming the face of a brand. Once you adopt that mindset, you’ll see how some of the best marketing, customer retention, and more come from your customer service and support. Here are the top customer service influencers and resources to follow.

2021 133

2021 Article Customer Service Loyalty Programs 133

CustomerSuccessBox

NOVEMBER 2, 2021

1,000 enterprise customers paying you $100k+ per year each; or 10,000 medium-sized companies paying you $10k+ per year each; or 100,000 small businesses paying you $1k+ per year each; or 1 million consumers or “prosumers” paying you $100+ per year each or 10 million active consumers who you monetize at $10+ per year each by selling ads.

Customer Retention 52

Customer Retention Customers Customer Success 2014 52

Totango

MAY 11, 2021

Stakeholder engagement and management is critical for customer retention. Customer service managers. In some cases, there may be other categories of stakeholders. You can apply segmentation to group stakeholders into different categories in order to facilitate automated communication processes. Legal advisors.

Engagement 84

Engagement Management Net Promoter Score Customer Journey Mapping 84

BlueOcean

JANUARY 6, 2020

In fact, a NewVoiceMedia survey revealed that 43% of customers feel more connected to a brand when they are able to contact a company through any channel. Furthermore, customer retention rates are significantly higher for companies with a strong omnichannel approach. Speed and flexibility. Reliability and transparency.

Omnichannel 177

Omnichannel Customer Care Customer Journey Consumers 177

SurveySensum

SEPTEMBER 11, 2023

How well is your SaaS product performing, especially in terms of SaaS customer retention ? This is why SaaS businesses must focus heavily on retaining customers and ensuring that they keep using their products and services. But before that let’s quickly understand the four important categories of SaaS KPIs. Let’s begin!

Metrics 52

Metrics 2023 Net Promoter Score Measurement 52

ShepHyken

APRIL 5, 2022

Customer retention provides exponentially increasing returns for your business. However, some companies can have high retention but low satisfaction. Your customers may come back because your products are affordable until another company that offers lower prices comes along.

Customer Satisfaction 67

Customer Satisfaction ROI Loyalty Customer Retention 67

Experience Investigators by 360Connext

NOVEMBER 20, 2014

According to a Deutsche Bank report , during the last decade the SaaS category grew 11X in market cap value, and its share of the total software market capitalization grew from 2% to 14%. Customer retention is paramount in keeping a SaaS company afloat, particularly as a company matures.

Customer Experience 302

Customer Experience Chief Customer Officer Events 2003 302

Experience Investigators by 360Connext

JUNE 22, 2021

Leaders need to challenge their teams to consider those quiet but almost-gone customers. . Most organizations used to lump customers into 2 simple categories: New customers and “the rest of them.” New customer acquisition is often used to gauge success – the more we gain, the better we’re doing! They just leave.

Customer Journey Mapping 297

Customer Journey Mapping Customer Journey E-support Customers 297

Gainsight

MARCH 3, 2022

It should never be a silo where customers go to solve for lost support tickets. It truly is a critical part of the customer journey. Community is vital for companies building a new category or industry. Essentially, if you are thinking about creating a community, it must be well engrained into the customer journey.

Definition 98

Definition Customer Centricity Customer Journey Customer Success 98

CloudCherry

FEBRUARY 26, 2019

More firms choose to adopt analytics to increase customer acquisition: ‘Increasing customer acquisition and targeting’ is the top driver that encourages organizations to adopt measurement and analytics, with 57% of respondents opting for it. Customer Analytics and its diverse applications.

2018 256

2018 2014 Measurement Retail 256

inQuba

SEPTEMBER 30, 2022

“Many of our customers are on a digital transformation journey,” Rossini adds, “and we’ve enjoyed impressive growth in the past year as we’ve supported our customers in this process, especially in financial services, telecommunications and hospitality and where customer retention and experience are top priorities.”

2022 52

2022 Telecommunications 2010 Hospitality 52

Totango

SEPTEMBER 22, 2023

. “Totango believes being an open platform, working with a wide range of capability used in the enterprise, is vital to ensuring customer success can have the maximum impact of helping businesses retain and grow their customers.

Multi-Channel 113

Multi-Channel 2023 Customer Success Omnichannel 113

Customer Bliss

SEPTEMBER 27, 2018

“If you have a customer success job in an organization that isn’t interested in customer retention, you need to consider doing something else,” says Lucy Norris , Executive VP, Global Leader of Customer Success at Genesys , a technology company that provides solutions for customer experience, marketing, and sales.

Communication 222

Communication Chief Customer Officer 2012 Presentation 222

CSM Magazine

MARCH 17, 2023

Businesses that optimise both the customer journey and the customer experience are rewarded with strong customer retention, revenues and brand reputation. But so many fail at the first hurdle because they don’t take the time to understand the customer journey.

Customer Journey 52

Customer Journey Touchpoint Travel Entertainment 52