SurveySensum

SEPTEMBER 21, 2023

This shows the high cost of customer acquisition and how, at times, businesses fail to recoup their initial investment. In contrast, Company B chose to focus on retaining its existing customer base by introducing loyalty programs. Well, acquiring new customers can costs you five times more than keeping the ones you have.

Customer Retention 52

Customer Retention Non-Profits Social Media Gaming 52

Zendesk

APRIL 5, 2022

It’s now more important than ever for support teams to track customer retention metrics. You want to ensure you’re putting your best customer service foot forward so buyers continue doing business with you. We surveyed top SaaS support teams to identify the most important customer retention metrics to measure.

Customer Retention 98

Customer Retention Net Promoter Score NPS Retail 98

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 60

Customer Retention Customer Loyalty Social Media Education 60

1 to 1

MARCH 8, 2021

To better understand this, we need to consider the fundamentals of customer acquisition vs. customer retention. What is customer acquisition? In short, it’s your ability to acquire new customers. What is customer retention? The art of perfect experiences.

Customer Acquisition 26

Customer Acquisition Customer Retention Predictive Analytics Customer Relationship 26

CX Journey

DECEMBER 16, 2014

Want to know the secret to customer retention? I do sometimes find inspiration to write about both customer and employee experiences in the strangest ways, but that story got me thinking about this blog post that I needed to write about customer retention and how to keep customers coming back.

Customer Retention 83

Customer Retention Customer Acquisition Sales Omnichannel 83

Customer Bliss

JUNE 23, 2016

I talk often about customer experience , but recently I’ve heard from some followers that they’d like a bit more on customer retention. The first thing to understand about customer retention is that obviously it comes straight from customer experience. Five steps for regaining customer trust.

Customer Retention 69

Customer Retention Customer Acquisition Sales Customer Experience 69

SurveySensum

OCTOBER 1, 2024

Here’s a quick guide to the nine main customer satisfaction metrics, when to use them, and what they reveal. Net Promoter Score (NPS) What It Is: NPS is an industry favorite that helps assess customer loyalty by asking how likely the customers are to recommend your product or service.

Customer Satisfaction 52

Customer Satisfaction Net Promoter Score NPS Close the Loop 52

Customer Think

JULY 14, 2023

Did you know that customer acquisition can be five times more expensive than customer retention, especially in the online grocery delivery business? Yes, that’s true, and it most certainly proves the importance of customer retention for the success of any business.

Customer Acquisition 52

Customer Acquisition Customer Retention Customer Loyalty 52

Shep Hyken

JULY 26, 2021

times more likely to say they do not provide excellent customer service and twice as likely to say they do not deliver quality outcomes.”. How to Build Customer Loyalty with a Thank You Page by Thomas Griffin. What is Customer Retention? (+ 8 Customer Retention Strategies) by Madeleine Wilson.

Customer Service 92

Customer Service Customer Retention Contact Center AI 92

Intercom

AUGUST 23, 2022

Customer retention has never been more critical to business success than it is today. That’s why companies should look to support – and retain – the customers they have. Shifting focus to customer retention can actually be twice as powerful as customer acquisition.

Customer Retention 104

Customer Retention Customer Acquisition Touchpoint Education 104

CX Journey

MAY 9, 2018

Image courtesy of Quadient Where does your company put a greater focus, on acquiring new customers or on retaining existing customers? The old debate stands: should companies focus on customer acquisition over retention ? It seems there ought to be a balance, or a shift in balance, no?

Customer Acquisition 60

Customer Acquisition Sales Customer Retention Customer Loyalty 60

ClearAction

APRIL 13, 2023

The gap between what’s promised and what’s received, as seen by customers, is your brand integrity gap. CMOs set expectations for customer acquisition and CCOs assure expectations are delivered for customer retention. Minding the gap is the ultimate purpose of a CCO.

Customer Acquisition 62

Customer Acquisition Customer Retention CX Customer Loyalty 62

Ameyo Callversations

APRIL 25, 2022

AI Chatbot: Redefining the Customer Acquisition Process. But how is it changing customer acquisition for good? AI-Powered chatbots touch upon multiple parameters that let a business succeed in its customer acquisition pursuits. High Customer Retention. Easier Retargeting. Wrapping Up.

AI 98

AI Customer Acquisition Artificial Intelligence Entertainment 98

VOZIQ

MAY 8, 2023

The blog talks about common missteps, such as relying on old strategies and not focusing much on investing in identifying new customer segments. This article is a must-read for businesses trying to fortify their retention strategies and experiment with new CX programs.

E-commerce 40

E-commerce Customer Acquisition ML Machine Learning 40

VOZIQ

MAY 8, 2023

The blog talks about common missteps, such as relying on old strategies and not focusing much on investing in identifying new customer segments. This article is a must-read for businesses trying to fortify their retention strategies and experiment with new CX programs.

E-commerce 40

E-commerce Customer Acquisition ML Machine Learning 40

Zendesk

FEBRUARY 29, 2024

However, a pattern of consistent customer cancellations or downgrades indicates that there may be issues with your product or your customer experience. Understanding this metric can help you in key areas like: Customer retention : Revenue churn can help identify what your customers appreciate—and what they don’t.

Customer Retention 52

Customer Retention Customer Acquisition Artificial Intelligence CX 52

1 to 1

AUGUST 31, 2020

The importance of customer loyalty and retention can’t be overstated. Loyal customers are less price sensitive and more likely to make frequent purchases—in addition to being brand advocates. Research also shows that just increasing customer retention rates by 5 percent increases profits by 25 percent to 95 percent.

Customer Loyalty 26

Customer Loyalty Net Promoter Score Contact Center Retail 26

Lightico

MARCH 18, 2022

Your product offerings still matter, but in an environment where customers can compare companies and read reviews with a quick internet search, a superior customer experience sets you apart from the competition. Customer loyalty matters. But in today’s digital environment, customers want control.

Customer Experience 59

Customer Experience Customer Acquisition Social Media Artificial Intelligence 59

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. A low CAC relative to customer lifetime value indicates efficient customer acquisition.

Net Promoter Score 52

Net Promoter Score Customer Acquisition NPS Customer Satisfaction 52

VOZIQ

JULY 30, 2021

A 2018 Criteo survey results indicated that 81% of marketers surveyed said that monitoring CLV can increase sales, 68% agreed that implementing CLV data boosts retention and 56% believed doing so drives customer loyalty. CLV helps you monitor key indicators of business performance such as margin, retention and loyalty.

Customer Acquisition 59

Customer Acquisition Touchpoint Machine Learning Customer Retention 59

TeamSupport

MAY 3, 2023

Here are a few ways ticket deflection benefits the customer: Builds customer satisfaction and loyalty. The ticket deflection process ensures that the customer gets an immediate answer to their question, encouraging higher satisfaction and customer loyalty. Improves customer retention and acquisition.

Customer Satisfaction 98

Customer Satisfaction Customer Acquisition Education Start-ups 98

Customers That Stick

SEPTEMBER 18, 2014

Building a base of loyal customers can be one of the most effective ways to increase your profitability and optimize your customer acquisition costs, but what does it take to win the favor of Millennials (consumers who are currently between 18 to 34 years old)?

Social Media 133

Social Media Customer Loyalty Retail Customer Acquisition 133

VOZIQ

JULY 30, 2021

A 2018 Criteo survey results indicated that 81% of marketers surveyed said that monitoring CLV can increase sales, 68% agreed that implementing CLV data boosts retention and 56% believed doing so drives customer loyalty. CLV helps you monitor key indicators of business performance such as margin, retention and loyalty.

Customer Acquisition 52

Customer Acquisition Touchpoint Machine Learning Customer Retention 52

VOZIQ

JULY 30, 2021

A 2018 Criteo survey results indicated that 81% of marketers surveyed said that monitoring CLV can increase sales, 68% agreed that implementing CLV data boosts retention and 56% believed doing so drives customer loyalty. CLV helps you monitor key indicators of business performance such as margin, retention and loyalty.

Customer Acquisition 52

Customer Acquisition Touchpoint Machine Learning Customer Retention 52

Hodusoft

SEPTEMBER 4, 2024

It’s not surprising to note that when advertising costs go up, so does the cost of customer acquisition. Use your call center software to train and equip your customer service team with the tools and knowledge needed to resolve inquiries efficiently.

E-commerce 52

E-commerce Sales Omnichannel Contact Center 52

SurveySensum

OCTOBER 26, 2023

It helps identify areas where customers are highly satisfied and pinpoint those that may require attention. Customer Loyalty This metric is a crucial indicator of long-term success. It measures the likelihood of customers continuing to do business with you and recommending your products or services to others.

Customer Satisfaction 52

Customer Satisfaction Net Promoter Score Social Media Customer Loyalty 52

Zendesk

NOVEMBER 1, 2021

Typically, different metrics are used to gauge the quality of customer experience and customer success. CX is evaluated using customer satisfaction score (CSAT), Net Promoter Score® (NPS), customer acquisition rate, and conversion rate. Research also shows that helping customers succeed increases repeat purchases.

Customer Experience 98

Customer Experience Net Promoter Score Touchpoint CRM 98

SurveySensum

AUGUST 30, 2024

So providing customers with a clear set of communications, personalized advice, and easy-to-set-up solutions will simplify complexities, and reduce customer frustration and effort. Customer Retention : The financial industry often reports high customer acquisition costs.

Customer Experience Management 52

Customer Experience Management Customer Experience Omnichannel Text Analytics 52

Zendesk

OCTOBER 13, 2022

Let your CX organization drive customer retention and loyalty. Don’t stop at customer acquisition—let CX drive retention and loyalty. Having worked so hard to build up their customer base, small businesses know firsthand the importance of customer retention and customer loyalty.

Retail 52

Retail Customer Retention CX Gaming 52

Hodusoft

AUGUST 8, 2024

In outbound call centers, agents initiate contact (through calls or messages) with customers or prospects for sales, marketing, surveys, or feedback purposes. 2 Purpose The purpose of inbound call centers is to resolve customer issues, provide support, and handle service requests.

E-commerce 52

E-commerce Customer Retention Customer Satisfaction Customer Relationship 52

SurveySensum

MAY 11, 2023

NPS is particularly useful in the retail industry because it helps businesses build customer loyalty, retain loyal customers, and encourage them to refer others. This is particularly important in the retail industry, where customer satisfaction can make or break a business. But, When to Launch NPS Surveys in Retail?

NPS 52

NPS Retail Net Promoter Score Customer Satisfaction 52

Shep Hyken

OCTOBER 24, 2022

9 Reasons To Offer Your Customers A Subscription Service by Vincent Tricarico. Forbes) By instituting a subscription service, you can shift your focus away from customer acquisition and toward customer retention. My Comment: If you’ve been following me, you may know I’m a huge fan of the subscription model.

Customer Service 47

Customer Service Retail B2C Manufacturing 47

SurveySensum

JULY 10, 2023

This is how Starbucks prioritizes its customers and consistently delivers exceptional retail customer service – showing how by creating a positive customer experience you can foster trust, cultivate customer loyalty , and set your business apart. So, how can you build customer loyalty and retention?

Retail 52

Retail Customer Service E-commerce Social Media 52

SurveySensum

SEPTEMBER 8, 2023

NPS cuts cost of customer acquisition: According to the research done by Frederick Reichheld of Bain & Company (the inventor of NPS) increasing customer retention rates by 5% increases profits by 25% to 95%. NPS increases customer loyalty: According to the 2017 Temkin research , promoters are 4.2

NPS 52

NPS Social Media Customer Satisfaction Customer Loyalty 52

Shep Hyken

DECEMBER 10, 2021

Customer acquisition costs approximately five times more than customer retention, so what steps can companies take to keep the subscribers they already have happily engaged? . Seamlessly onboard your subscribers.

Entertainment 77

Entertainment Customer Acquisition Omnichannel Gaming 77

SurveySensum

JULY 6, 2023

You’ve poured your heart and soul into creating captivating marketing campaigns, investing substantial resources in driving customer acquisition. Yet, despite these efforts, you notice a decrease in sales and declining customer loyalty. Even as a retail giant , Reliance Trends struggles with customer retention.

Customer Satisfaction 52

Customer Satisfaction Retail Social Media Net Promoter Score 52

SurveySensum

JULY 6, 2023

You’ve poured your heart and soul into creating captivating marketing campaigns, investing substantial resources in driving customer acquisition. Yet, despite these efforts, you notice a decrease in sales and declining customer loyalty. Even as a retail giant, Reliance Trends struggles with customer retention.

Customer Satisfaction 52

Customer Satisfaction Retail Social Media Net Promoter Score 52