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The Psychology Behind Customer Retention and Loyalty

Experience Investigators

When working to grow their business and revenue, companies often focus most (if not all) of their resources on attracting new customers. Customers expect (and deserve!) If a customer tries a new brand that fails to deliver on their needs—especially during the earliest interactions—they have little reason to support it.

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9 Strategies to Improve Customer Retention Rate in 2023

SurveySensum

This strategic move resulted in doubling their business, showcasing the power of leveraging customer retention to drive growth. Well, acquiring new customers can costs you five times more than keeping the ones you have. So, customer retention is indeed crucial. What is the Customer Retention Rate?

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How to Build an Effective Social Customer Service Program

Win the Customer

. “Social care” isn’t anything new, but providing effective multi-channel customer service that includes social care can be pose significant challenges for organizations big and small. Social service organizations see a 5.6% YoY increase in customer retention.

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Journey orchestration – The flip side of the coin to Conversation Orchestration

Logicalware

And that’s where customer journey orchestration comes into play. As customers increasingly use diverse channels to interact with organisations, from traditional phone and email to social media, the risk of siloed workflows and lost customer insights grows. This can damage the customer experience.

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Product Feedback Loop: A Blueprint for Continuous Product Improvement

SurveySensum

How to Build the Product Feedback Loop: Four stages Collect Feedback Analyze the Gathered Feedback Incorporate Feedback into Product Strategy Take Follow-Up and Close the Loop Best Practices for Building and Managing a Product Feedback Loop Conclusion What is a Product Feedback Loop? If they do, you keep going.

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Decoding the Stages of Customer Journey: A Comprehensive Guide

SurveySensum

Through insightful analysis, practical tips, and real-world examples, we aim to equip businesses with the knowledge needed to navigate and enhance their customers’ journey, leveraging the power of a robust customer feedback tool. Let’s get started with the first of five stages of the customer journey – Awareness!

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Guest blog: 5 Customer Experience Trends for Financial Institutions in 2023

Comm100

To drive business, attract new clients, and retain existing ones, financial institutions must invest in improving their customer experience. One of the best strategies to achieve that is tracking and keeping up with emerging industry trends. What is Customer Experience in the Financial Industry?