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

Customer Think

FEBRUARY 2, 2022

Source: Shutterstock Will purpose marketing (a/k/a purpose-led marketing and purpose-driven marketing) drive increased customer loyalty, improve customer acquisition and speed revenue growth? Or is it just another passing fad that will.

Customer Acquisition 59

Customer Acquisition Customer Loyalty 59

Beyond Philosophy

JANUARY 21, 2020

Customer loyalty is what most businesses want. The more your customers buy from you, the more you improve your bottom line, not only in increased sales but also in decreased customer acquisition costs. The truth is that customer loyalty is based on memory. How AI will Change CX for the Future.

AI 120

AI Artificial Intelligence Construction Customer Loyalty 120

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

Customer Think

APRIL 16, 2023

With ongoing shifts in the economic climate, customer retention continues to be a main focus—and in many cases, it has become even more important in 2023. According to a report by Twilio, in the face of recession, 67% of businesses are shifting focus from customer acquisition to customer retention.

Customer Retention 111

Customer Retention Customer Acquisition Customer Loyalty Technology 111

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. Chatbots are a gamechanger for the business world on so many levels. Wrapping Up.

AI 98

AI Customer Acquisition Artificial Intelligence Entertainment 98

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

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

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. 3 Database Strategies to Drive Better Customer Acquisition and Retention This blog from Forbes reiterates the value of a good database.

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. 3 Database Strategies to Drive Better Customer Acquisition and Retention This blog from Forbes reiterates the value of a good database.

E-commerce 40

E-commerce Customer Acquisition ML Machine Learning 40

Zendesk

FEBRUARY 29, 2024

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. This can lead to a better CX and improved customer loyalty. If it stays consistent—or even reduces—that tells you your customers value your new approach.

Customer Retention 52

Customer Retention Customer Acquisition Artificial Intelligence CX 52

Customer Think

JULY 17, 2023

Gone are the days when brands kept focusing on customer acquisition and paid the least attention towards retaining their existing customers, in […]

Customer Acquisition 52

Customer Acquisition Customer Loyalty 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

SurveySensum

SEPTEMBER 11, 2023

This is why SaaS businesses must focus heavily on retaining customers and ensuring that they keep using their products and services. So, the main SaaS KPIs that companies focus on are customer retention , customer acquisition cost, customer lifetime value, and monthly revenue. But why measure it?

Net Promoter Score 52

Net Promoter Score Customer Acquisition NPS Customer Satisfaction 52

Customer Think

OCTOBER 18, 2021

Image by Stories Cohort analysis is a metric that can be used to measure customer retention and analyze the success of customer acquisition strategies. This article will provide an overview of this metric, and show you how to apply it in your own business. What are the 2 types of cohort analysis? Type 1 Cohort […].

Customer Retention 80

Customer Retention Customer Acquisition Customer Loyalty 80

VOZIQ

DECEMBER 22, 2020

The Human Touch at the Center of Customer-Experience Excellence. 5 Predictions: How Customer Experience Will Change in 2021. Conversational Al: The Future of Customer Experience. Customer Acquisition Vs. Customer Retention: What Should You Focus on? Five Churn Reduction and Customer Retention Strategies.

Customer Retention 64

Customer Retention Customer Acquisition Engineering Customer Loyalty 64

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

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

Helpt

FEBRUARY 27, 2023

According to a survey by American Express , 7 out of 10 US consumers say they are willing to spend more with companies that provide excellent customer service. By investing in dedicated tech support, businesses can deliver exceptional customer service and generate more revenue.

Manufacturing 52

Manufacturing Customer Loyalty Customer Satisfaction Customer Acquisition 52

CallCare

MAY 2, 2023

There are lots of reasons to measure customer satisfaction, including: Helping you gain a better understanding of your customer’s expectations and needs Reducing costs related to customer dissatisfaction – from processing claims and complaints, to losing a customer altogether Identifying areas of weakness in your customer service offer, and the (..)

Customer Satisfaction 52

Customer Satisfaction Customer Acquisition Customer Loyalty Customer Feedback 52

Intercom

AUGUST 23, 2022

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. While a 1% increase in acquisition might boost your bottom line by about 3% , a 1% decrease in churn can boost it by 7% !

Customer Retention 105

Customer Retention Customer Acquisition Touchpoint Education 105

SurveySensum

MAY 26, 2023

Best Practices to conduct tNPS and rNPS surveys Employee NPS (eNPS) Conclusion Net Promoter Score (NPS) is one of the popular CX metrics in the business offering valuable insights to the businesses to measure customer loyalty and gauging the overall satisfaction levels. Let’s find it out.

Net Promoter Score 52

Net Promoter Score NPS Touchpoint Customer Loyalty 52

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. Reduces cost of customer support.

Customer Satisfaction 98

Customer Satisfaction Customer Acquisition Education Customer Retention 98

Zendesk

SEPTEMBER 3, 2021

Studies have identified customer service as a key competitive differentiator, even over price, and a key component of customer loyalty. The impacts of customer service go far beyond customer satisfaction. Done well, customer service can boost market share, customer spend, and even customer acquisition.

Customer Service 94

Customer Service Customer Acquisition Start-ups Customer Satisfaction 94

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

Hodusoft

SEPTEMBER 21, 2022

Customer experience. Customer acquisition or retention. Customer satisfaction. It not only automates workflow but also enhances customer satisfaction. It’s a powerful tool for improving conversion rate, as well as, building customer loyalty. Order tracking, etc. Telecalling. Promotion or offer update.

CRM 96

CRM Actionable Insights Business Growth Sales 96

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

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

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

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

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

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

CX Journey

DECEMBER 16, 2014

If only they would shift the ratio of acquisition : retention focus to be more about to how to keep the customers they already have than on how to acquire new/more customers. Emmet and Mark Murphy 55% of current marketing budget is spent is on new customer acquisition and only 12% on customer retention.

Customer Retention 83

Customer Retention Customer Acquisition Sales Omnichannel 83

SurveySensum

JUNE 9, 2023

Types of Customer Satisfaction Surveys Questions to Ask in Customer Satisfaction Surveys on Different Scales Create a Customer Satisfaction Survey with SurveySensum Takeaway Types of Customer Satisfaction Surveys Here are the 5 types of customer satisfaction surveys that you can use at different touchpoints across the entire customer journey.

Customer Satisfaction 52

Customer Satisfaction Net Promoter Score NPS Touchpoint 52

SugarCRM

APRIL 28, 2022

Customer acquisition is costly. It makes sense to keep your existing customers happy as the cost of churn is so high. New research from SugarCRM reveals that almost two-thirds (63%) of sales and marketing leaders agree that keeping existing customers is more cost-effective than closing a new deal.

Artificial Intelligence 49

Artificial Intelligence CX Finance Customer Acquisition 49