Magellan Solutions

OCTOBER 18, 2016

Most businesses spend the majority of their resources on getting new customers that they tend to ignore their most prized asset: their existing customer base or network. “It It is cheaper to retain than acquire a customer,” says 70% of respondents from Econsultancy/Responsys Cross-Channel Marketing Report 2013.

Customer Base 68

Customer Base Social Media 2013 ROI 68

InMoment XI

JANUARY 12, 2023

Cross-selling and upselling have formed the bedrock of brand aspirations for their existing customer base for a long time now.

Social Media 529

Social Media Customers Connections Customer Retention 529

Confirmit

OCTOBER 18, 2018

What Is Customer Retention? Customer retention refers to an organization’s processes and activities that aim at stopping customers from churning or switching to a competitor. Increasing customer loyalty is a key goal of any business, and contributes greatly towards sustainable growth.

Customer Retention 45

Customer Retention Multi-Channel Net Promoter Score Return on Investment 45

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

SurveySparrow

JANUARY 14, 2020

Your customers are your most valuable asset, especially if you are a small company. Growing your customer base will always be one of the most important objectives in every stand-up meeting. Businesses spend thousands of dollars on lead generation so that they can welcome new customers into their fold. Saves money.

Customer Retention 52

Customer Retention Feedback Loyalty Programs Roadmap 52

Experience Investigators by 360Connext

FEBRUARY 6, 2024

We know CX teams can deliver significant business advantages: Satisfied customers are much more likely to purchase more Revenue grows 40% faster by providing personalized experiences Businesses achieve a 2.3x CX teams use a variety of metrics to guide their efforts, drive improvements, and measure ROI.

Metrics 270

Metrics Net Promoter Score NPS Effort Score 270

Beyond Philosophy

NOVEMBER 10, 2014

In addition, higher levels of customer satisfaction are tied to high levels of positive cash flows with low volatility, and positive earnings surprises. Keeping Customers results in a high increase in value. Focusing on customer retention with a better Customer Experience will benefit your bottom-line expenses.

Net Promoter Score 164

Net Promoter Score ROI Customer Experience 2014 164

delighted

DECEMBER 10, 2019

ROX is the new customer experience ROI. Let’s get right into it — how customers perceive your brand can influence the success of your business more than ever before. Expected Customer Experience (CX) impact on loyalty. Building your own CX ROI model. Baseline ROI metrics: Customer experience by the numbers.

ROI 40

ROI Measurement Customer Experience Metrics 40

Bob Hayes

APRIL 29, 2018

Yet businesses are over 2x more likely to focus on acquisition efforts than they are retention efforts. In today’s post, I want to discuss why businesses need to increase their focus on customer retention efforts and why the are imperative to your customer acquisition efforts. Increase Revenue.

Customer Retention 64

Customer Retention Return on Investment Customers Social Media 64

Bob Hayes

APRIL 29, 2018

Yet businesses are over 2x more likely to focus on acquisition efforts than they are retention efforts. In today’s post, I want to discuss why businesses need to increase their focus on customer retention efforts and why the are imperative to your customer acquisition efforts. Increase Revenue.

Customer Retention 64

Customer Retention Return on Investment Customers Social Media 64

Education Services Group

JUNE 18, 2018

How do I increase customer retention? Although the answer is multilayered and complex, one of the essential building blocks to answering it includes Customer Success Managers (CSM). A career field that barely existed five or so years ago, CSMs make up ground zero for all CS functions — that includes keeping customers.

Customer Retention 45

Customer Retention Customer Success White Paper Management 45

Totango

JUNE 28, 2022

But during an economic downturn , when companies are cutting costs and putting a halt on investing in new products, the CMO’s focus has to switch from facilitating growth through new customers to promoting growth via the company’s current customer base. . Maximize Your Return on Investments.

Return on Investment 73

Return on Investment Competitive Advantage ROI Communication 73

CX University

MARCH 18, 2024

The company leverages AI and machine learning to create custom and targeted experiences for customers based on their unique preferences, browsing history, and purchase behavior Benefits of Hyper-Personalization The shift towards hyper-personalization offers benefits for both businesses and customers. Customer Retention.

Customer Experience 52

Customer Experience Retail 2023 2022 52

ShepHyken

OCTOBER 4, 2019

Smart businesses are now turning their heads to customer engagement platforms. An effective customer engagement platform allows you to reward your brand loyals. Such rewards drive better revenues, ROI, and profits. What is customer engagement? Well, there is nothing fancy about customer engagement.

Blog 121

Blog Brands Engagement ROI 121

Beyond Philosophy

FEBRUARY 10, 2020

Treating your customers well and giving them what they want is at the heart of every sales manager’s action and marketing department’s message. . However, business is also all about return on investment (ROI). Experience Growth: This type uses the Customer Experience to foster customer-base increases in the organization.

2020 172

2020 Hospitality Return on Investment Telecommunications 172

InMoment XI

NOVEMBER 2, 2021

Creating tangible value for your business—and that means proving that sometimes elusive CX ROI. Four Ways to Prove CX ROI (and Assets That Show You How). Four Ways to Prove CX ROI (and Assets That Show You How). Customer Acquisition Customer Retention Cross-sell & Upsell Cost Reduction. #1:

ROI 260

ROI White Paper Customer Retention Feedback 260

Call Experts

SEPTEMBER 15, 2022

Especially if you are new to outsourcing customer support, it is essential to understand the benefits of a solution like a 24-hour customer service number or after-hours support. . Improve Customer Retention. One of the most common mistakes companies make is ignoring the importance of customer retention.

Customer Service 52

Customer Service Average Handle Time Customer Retention Metrics 52

inmoment

AUGUST 10, 2020

Now comes the hard part: proving results and justifying ROI. Luckily, there are several tried-and-true metrics that practitioners can track to justify ROI, and we’re going to hit them all right now: Customer Acquisition Growth. Customer Retention & Recovery. Upselling Established Customers.

B2B 52

B2B Measurement ROI Customer Retention 52

Customer Bliss

MAY 2, 2019

Once a CSM was in place, she was able to really scale and grow the customer base. Rosalyn talks about the customer delight approach, which people talk about a lot. However, at Allovue, they didn’t see much of an ROI with this method. Rosalyn Curato, @AllovueBalance #edfintech #CX #customerexperience Click To Tweet.

Chief Customer Officer 149

Chief Customer Officer Financial Consulting Customer Retention 149

Magellan Solutions

FEBRUARY 20, 2024

With specialized service categories, they ensure tailored guidance for every customer, building convenience and loyalty. As a result, Nordstrom experiences consistent sales growth and a satisfied customer base. Benefit: Categorized live chat services for tailored customer assistance.

Customer Satisfaction 52

Customer Satisfaction Loyalty ROI Technology 52

CSM Magazine

FEBRUARY 3, 2023

It’s clear, customer acquisition is not where our focus should be in 2023. Go big on customer retention. Now is when thoughtful customer service shines. Retaining existing customers and keeping churn to a minimum is vital to surviving rocky terrain. The answer is simple.

Customer Service 52

Customer Service Chief Customer Officer ROI Social Media 52

Optimove

JUNE 1, 2023

They bring in more revenue: “Companies that focus their marketing on existing customers see a 20% increase in revenues.” Gartner) They represent top marketing ROI: “Increasing your customer retention rate by just 5% can lead to an increase of 25%-90% in profit.”

Marketing 52

Marketing Multi-Channel Metrics Customers 52

Beyond Philosophy

DECEMBER 8, 2014

One of the several drivers of change for Carter Machinery was the realization their business model is changing as the result of more expansive product lines and an increasingly diverse customer base. The way we did business years ago with a small base of customers was one-on-one, face-to-face, and we knew them intimately.

Engagement 142

Engagement 2014 Employee Experience Customer Experience Management 142

SurveySensum

JULY 11, 2023

Here’s how you can do it – Collect relevant customer data to understand their preferences and needs. Segment your customer base based on common characteristics or behaviors. Use customer persona to deliver personalized recommendations and offers. They take their customer retention strategy a step further.

Brands 83

Brands Customer Experience Rewards Programs Touchpoint 83

CustomerSuccessBox

JUNE 13, 2022

Customer success and the role of Customer Intelligence. Customer intelligence may assist marketers in achieving a wide range of customer success objectives and activities. Creating a devoted customer base. Customer intelligence insights aid long-term customer development.

Customer Success 52

Customer Success Net Promoter Score Customer Centricity Customers 52

SmartKarrot

DECEMBER 4, 2020

Before customer success was introduced, companies used to spend massive funds in acquiring the customers only to see them finally go. But as customer retention became a major goal for these companies, customer success ROI started paying off. Importance of measuring customer success ROI.

ROI 10

ROI Measurement Customer Success Return on Investment 10

Happy or Not

DECEMBER 7, 2023

In-depth customer analytics Business leaders can harness the power of HappyOrNot’s platform to understand customer sentiment comprehensively. This data-driven approach empowers you to tailor your services and offers to match the ever-evolving preferences of your existing customer-base and target customers.

Feedback 36

Feedback Social Media Multi-Channel Return on Investment 36

Gainsight

SEPTEMBER 28, 2022

As new sales slow and companies shift focus to customer retention and expansion, the install base will need — and demand — more help than ever. Your customers will be taking a hard look at which SaaS providers deliver their desired outcomes, and which ones don’t. Keep the Customer in Customer Success.

Customer Experience 52

Customer Experience Customer Success Sales Customers 52

Gainsight

APRIL 14, 2022

One of the biggest paradigm shifts is an increased appreciation for the customer base. We can’t take our customers for granted — ever. Investing in customer success (CS) isn’t a nice-to-have anymore — or even merely a high priority — it’s existential. Demonstrate the ROI to Increase Corporate Spend in CS and CS Ops teams.

Chief Customer Officer 59

Chief Customer Officer Customer Success Metrics Effort Score 59

Bold360

NOVEMBER 9, 2016

The reason is that every one of those all-important purchases is accompanied by data that can be captured and integrated and analyzed, and then turned into actionable insights that can remake those one-time holiday shoppers into long-term, loyal customers with a lifetime value many times greater than the initial purchase. Churn Rate.

Metrics 89

Metrics Customer Retention Retail ROI 89

SurveySparrow

DECEMBER 14, 2020

Knowing your customers is, after all, the first step to an effective customer experience strategy. A well-managed customer experience involves active oversight of all aspects of your customer journey, including ROI. But how do you measure returns on customer experience? Customer Retention Data.

Customer Experience Management 52

Customer Experience Management Measurement Customer Experience Net Promoter Score 52

inmoment

JULY 4, 2020

Practitioners can also use these links to prove ROI to decision makers, which helps determine both which projects to prioritize and how to build a case for (more) funding. Customer Acquisition. Experience improvement initiatives can enhance customer acquisition. Customer Retention.

Customer Experience 40

Customer Experience Customer Retention Metrics Measurement 40

InMoment XI

NOVEMBER 15, 2023

Customer Churn Rate : Customer churn rate quantifies the percentage of customers who stop using a company’s product or service over a specific period, helping businesses gauge customer retention and identify potential issues. What is the ROI of Customer Experience Analytics?

Insights 324

Insights E Commerce Customer Experience E-support 324

SurveyGizmo

DECEMBER 21, 2022

Past behaviors and mobile customer engagement history You don’t want to reach out to first-time customers and dedicated loyalty-club member s in the same way. When you segment by your consumers’ previous histories of engagement, you can more effectively inspire mobile engagement and increase customer retention.

Customer Engagement 52

Customer Engagement Feedback Engagement Roadmap 52

CustomerSuccessBox

MAY 25, 2021

Have you ever heard any SaaS founder or VP -CS saying,” I‘m okay with losing a few customers every month?”. That’s because Customer Retention is critical. Customer retention is critical — particularly for B2B SaaS companies. Retaining a customer is way more profitable than acquiring new ones. .

Customer Retention 52

Customer Retention Metrics Measurement B2B 52

Second to None

APRIL 4, 2018

Creating loyalty amongst your target customers serves a challenge for brands in any industry, and ultimately, those organizations that do inspire customers to return to their brand are positioning themselves for continued success. How are retailers working to retain customers and maintain a loyal customer base?

Retail 54

Retail 2017 2018 Voice of Customer 54

Gainsight

MAY 13, 2020

Visibility to gain a common view of the customer. How to find pockets of expansion in your customer base. Reducing silos to create the ultimate customer experience. Given that new sales will likely decrease, there has never been a more crucial time to support your existing customer base.

Roadmap 59

Roadmap ROI NPS Customer Success 59