How to use the customer retention rate formula
Callminer
MARCH 8, 2023
Read this blog to learn how to use the customer retention rate formula, common variations, and how you can put it to use in your organization.
Customer Retention Related Topics 
Reading list: Advice for customer retention
Intercom, Inc.
APRIL 14, 2020
We continue our series of posts looking back through the Inside Intercom archive with a selection of some of our most popular posts on customer retention. Churn is inevitably going to be more of an issue, but that’s all the more reason to make every effort to ensure your customers can still find value in your product or service.
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Announcing our refreshed guide ‘The Customer Retention Starter Kit’
Intercom, Inc.
OCTOBER 4, 2022
A few years ago, we published The Customer Retention Starter Kit which helped thousands of businesses retain more customers over the long term. Today, we’re launching a completely refreshed guide to help you engage, nurture, and retain more customers in the modern age. Retain more customers for long-term success.
Customer Retention in 2023: What’s Changed, What’s Working, and How to Adjust
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.
Leveraging Data Analytics to Optimize the Customer Experience
Speaker: Nathan Hart, Mary Kane & Imran Mohammed
This approach can lead to actionable insights to resolve FCR problems, improve Customer Experience, reduce costs, and increase customer retention.
Top 5 Ways to Improve Customer Retention Rate
Customer Think
DECEMBER 11, 2022
Fostering long-term interpersonal relationships with customers should be the prime objective of your business. Even if your products are excellent and you are giving 100% effort but still seeing a dip in customer retention rate, then you must […].
Karen Hertzberg: Improving Customer Retention Through Great Customer Service
Bill Quiseng
DECEMBER 13, 2021
What’s better than gaining a new customer? That’s why a high customer retention rate is an important goal for many businesses. Excellent customer service is one of the best ways to achieve this goal. Customer retention supports long-term growth because it creates a loyal customer base.
Five Best Customer Retention Software Solutions for Customer Success
Totango
AUGUST 16, 2022
Customer Retention Software Cuts Down Client Churn. Customer retention software has become essential for effective SaaS customer success strategies. A winning SaaS business model must prioritize retaining customers, which is far more cost-efficient than acquiring new clients to offset churn.
5 Tips for Customer Retention
Return Customer
MARCH 8, 2023
All too many companies spend much of their energy and budgets on customer acquisition without investing sufficiently in customer retention. But the proof of that lies in your customer retention figures. But whatever your line of business, the basic principle applies.
How to Improve Your Customer Retention Rate using CX Tech the Right Way
Customer Think
OCTOBER 24, 2022
eCommerce retailers need to focus on human experiences, not just metrics There’s no question that customer retention is key to a successful business. In fact, according to research from Bain & Company, increasing customer retention (CR) rates by 5% can increase profits by 25-95%.
Customer retention is the new conversion
Intercom, Inc.
MAY 1, 2018
The latest batch of billion-dollar companies are built on high customer retention. At Traction Conference, an event all about how to keep and grow customers and revenue at scale, I explained how to build onboarding based on your customers’ goals, and why when your product improves, your onboarding must improve with it.
Customer retention is the new conversion
Intercom, Inc.
JULY 1, 2019
Most importantly, subscription businesses enable you to think about marketing as a function of delivering customer success, and not just about the transactional “get that customer over the line.” Customer retention is more important than conversion. How do we retain customers? Sounds great.
Creative Ways to Boost Customer Retention and Keep Your Business Going Strong
Customer Think
APRIL 28, 2023
Customer retention is one of the most critical aspects of business success. After all, you’ve already put in the hard work to acquire customers, so it makes sense to do whatever it takes to keep those customers around. But how can you go about doing that? Sometimes, it pays off to think outside the box […]
9 Customer Retention Strategies to Use in 2022
CommBox
APRIL 5, 2022
For a business to be profitable, it is important to be able to attract customers. But it won’t matter if you don’t use customer retention techniques. Why is Customer Retention Important? Customers are the most important thing for any business entrepreneur, especially permanent ones. Conclusion.
Customer retention: 5 best practices & 6 strategies for low churn
Intercom, Inc.
OCTOBER 5, 2018
Customer retention is the silent killer of SaaS businesses today. Even if you are acquiring customers for $10, if they only stick around for a month or two, you won’t build a lasting business. What is customer retention? Why customer retention is important. How to understand customer retention.
How to Improve Customer Retention with NPS Surveys?
SurveySensum
MARCH 10, 2023
To prevent such negative outcomes, using tools such as Net Promoter Score (NPS) can help you actively gather and analyze customer feedback to improve customer retention and understand their experiences. This will help you identify areas for improvement and work towards retaining your customers. So, let’s dive in!
Implementing Customer Retention Strategies to Increase Lifetime Value
Customer Think
DECEMBER 31, 2021
It is much cheaper to get repurchases from current and former customers than it is to find new customers. Returning customers also spend more money and contribute to word-of-mouth marketing.
25 customer retention strategies to improve CX and reduce churn
Callminer
OCTOBER 27, 2022
A solid core of loyal customers is essential to any growing company. Read on for our list of strategies to improve CX and boost retention.
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11 customer retention metrics every support team should track
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.
How to Calculate and Improve Your Customer Retention Rate
Totango
MARCH 5, 2021
Customer retention is the lifeblood of any savvy enterprise. It’s the only way to be successful in this customer-centered economy and ensure scalable long-term revenue. To retain customers, companies must make the customer experience better and ensure customers never stop seeing value from their product or service.
Ready to Boost Customer Retention? 3 Tips That Can Help!Â
ClientSuccess
NOVEMBER 2, 2022
SaaS organizations are focusing more on maintaining and cultivating long-term customer relationships than ever before, and CSMs are at the forefront of these efforts. Here are some tips that can help your customer success team boost customer retention and reduce churn: 1. The post Ready to Boost Customer Retention?
Handpicked Resources for Customer Retention Leaders – February Edition
VOZIQ
FEBRUARY 3, 2021
Every month, we bring you the best resources from the internet to help you navigate customer retention and customer experience issues. So, what are the customer experience (CX) insights critical to your business? Customer Retention – How to Ensure Loyalty.
6 SaaS Customer Retention Best Practices
Totango
APRIL 24, 2020
In customer retention, every engagement counts. Rather, customer retention for SaaS enterprises is a result of the customer experience. It is an outcome based on an emotional reaction and connection to the performance of a supplier and the value a customer experiences through using that enterprise’s product.
Customer Retention Strategies That Work in Uncertain Times
Totango
APRIL 28, 2020
One especially important facet of planning for the unexpected inevitable is customer retention. In difficult, uncertain times, attracting new customers becomes exponentially harder as budgets tighten and priorities shift. To do that, you need a Customer Success solution that can adapt as quickly as the times can change.
How to Measure and Improve Customer Retention
Lumoa
MAY 7, 2019
What is Customer Retention is and how can you improve it? We share the best tips on how to improve Customer Retention and tell you more about other relating KPI:s you can use. Feed generated with FetchRSS )
6 Strategies to Reduce Post-Purchase Dissonance and Boost Customer Retention
Customer Think
DECEMBER 6, 2022
Ensuring customers are happy at every stage of their interactions with your company is essential to converting them into regular buyers. Failure to prioritize these customer interactions can negatively affect post-purchase dissonance and customer retention rates, both […].
Customer Retention During Economic Downturns: What’s Top of Mind for Your Customers?
Totango
OCTOBER 2, 2020
Equipped with the knowledge provided by customer data, you can help your customer survive tough times by offering practical solutions that add value and ultimately contribute to customer retention during economic downturns — even ones caused by a pandemic. Customer Retention Is Your Future.
How customer success teams can improve customer retention with VOC?
SurveySensum
DECEMBER 22, 2022
And that’s why 82% of companies say that retaining a customer is less expensive than acquiring a new one. That’s why focusing on customer retention is important and a lucrative VOC program helps you achieve it. . Let’s deep dive into this and understand how you can use the VOC program to improve customer retention.
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10 Most Effective Customer Retention Strategies
CommBox
DECEMBER 9, 2021
However, retaining the existing customers plays a significant role in generating more revenue. . There is no point in acquiring new customers when you don’t have proper customer retention strategies in place. According to Invesp, a 5% customer retention rate increases a company’s profits by 25%-95%.
Five Contract Renewal Tools to Increase Customer Retention
Totango
FEBRUARY 9, 2022
Automated procedures also may be set up to reach out to customers who fail to renew. Finally, in a best practices scenario, contract renewal automation utilizes KPIs and analytics to track customer retention rates and review the performance of renewal procedures.
Handpicked Resources for Customer Retention Leaders July 2021 Edition
VOZIQ
JULY 9, 2021
In the last year and a half, customer expectations have changed at a faster rate. Considering the impact and aftereffects of the COVID-19 pandemic, we can expect that customer retention will be more critical and challenging in the days ahead, which will require you to re-evaluate your customer retention strategy.
5 Email Marketing Campaigns That Increase Customer Retention
Customer Think
AUGUST 19, 2021
This is why more businesses are exploiting the advantages of email marketing to reach customers. Email marketing is so important to customer retention that you’re missing […]. The reach that email marketing offers is massive.
Customer Retention Metrics: The Metrics That Matter
Totango
MAY 14, 2021
Customer retention is the keystone in any customer success strategy. There are many different types of customer retention metrics that one can track. Which customer retention metrics have the biggest impact on your business? Customer Retention Rate. Revenue Churn Rate.
How Support Teams Can Improve Customer Retention
Help Scout
MAY 12, 2021
In this article, we discuss the role of support teams in retaining customers and show how to combine high-quality, empathetic customer service with a deliberate focus on business growth. What is customer retention and how is it measured? 15 practical ways customer service teams can improve retention.
Proactive Churn Prevention Promotes Customer Retention
Totango
JANUARY 26, 2021
Read on to learn what churn is, how an attrition analysis can help you pinpoint why you’re losing customers, and what steps you can take to prevent customer churn. What Is Churn Rate and How Does It Relate to Customer Retention? Prioritize Churn Prevention to Increase Retention and Revenue.
How a People-Centric CX Strategy Drives Customer Retention
Customer Think
FEBRUARY 22, 2023
All companies want to build products and deliver support that delights customers. But there’s often a disconnect between what business leaders think customers want and what customers actually need. Using intuition or instinct to guess what customers need rarely works. fail […]
How to Measure Customer Retention Using Cohort Analysis?
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 […].
Make your Customer Retention Strategy Seamless in 2021
VOZIQ
DECEMBER 22, 2020
Understanding customer expectations and retaining will be critical. As a customer focus leader, we know re-evaluating your customer retention strategy will play a decisive role in 2021. Conversational Al: The Future of Customer Experience. Customer Acquisition Vs. Customer Retention: What Should You Focus on?
5 Customer Retention Books You Must Read in 2022
VOZIQ
JANUARY 17, 2022
At VOZIQ, we are always on the lookout for thoughts and insights from masterminds on the customer experience delivery and retention best practices. In this spirit, we share with you our blog featuring the top recommendations on customer retention. We hope you will find them helpful. Author: Carl S. Author: Ali Cudby.
Acquire the right customers or suffer in customer retention
Customer Think
FEBRUARY 13, 2023
Leverage customer data and learn from segments to GROW RELATIONSHIPS WITH CUSTOMERS through your DTC channel. If you’re a marketer, it’s important to focus on acquiring the right customers. So how do you know who the right customers […]
Handpicked Resources for Customer Retention Leaders – July 2021 Edition
VOZIQ
JULY 9, 2021
In the last year and a half, customer expectations have changed at a faster rate. Considering the impact and aftereffects of the COVID-19 pandemic, we can expect that customer retention will be more critical and challenging in the days ahead, which will require you to re-evaluate your customer retention strategy.
Handpicked Resources for Customer Retention Leaders – July 2021 Edition
VOZIQ
JULY 9, 2021
In the last year and a half, customer expectations have changed at a faster rate. Considering the impact and aftereffects of the COVID-19 pandemic, we can expect that customer retention will be more critical and challenging in the days ahead, which will require you to re-evaluate your customer retention strategy.
10 Powerful Customer Retention Strategies to Reduce Churn
Aquire
SEPTEMBER 30, 2021
Does your business focus more on customer acquisition or customer retention? The most common answer is acquisition but the focus should be on retention. With the right customer retention strategies, you can ensure steady revenue and avoid losing market share to competitors. But first, let’s cover the basics.
Is Customer Retention Management Software Worth It?
Totango
MAY 1, 2020
Retaining existing customers is especially important during uncertain economic times, when fewer new customers may be signing on with your service. That’s why customer retention management software is a vital component of your retention strategy. What Are the Benefits of Customer Retention Management Software?
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