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Reduce Customer Churn to Boost Revenue and Stay Competitive

InMoment XI

Invest in Customer Loyalty Strong customer loyalty is key to reducing churn. Besides improving customer experiences, you can encourage loyalty with rewards and incentives. A good loyalty program goes a long way toward strengthening relationships and increasing customer lifetime value. Accessed 12/09/2024.

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Top 5 Customer Service & CX Articles for Week of November 4, 2024

ShepHyken

Seven loyalty program types: Pick the perfect fit by Marcus Marius (Dynamic Business) Did you know that companies that invest in loyalty programs report up to a 40% increase in revenue? My Comment: I’ve written many articles about loyalty programs. You can read the press release here.

Article 69
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Voice of Customer Analysis to Improve Customer Loyalty and Retention

InMoment XI

If feedback analysis suggests that customers expect more incentives, you can retain more customers by investing in a loyalty program. Must-know customer service statistics of 2024 ( [link] ). Accessed 11/14/2024. 69+ Eye-Opening Customer Retention Statistics to Know in 2024 ( [link] ). Accessed 11/14/2024.

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Top 5 Customer Service & CX Articles for Week of October 21, 2024

ShepHyken

Personalization, consistency, fun, trust, and a loyalty program are what helps these brands create customer loyalty. BONUS Why GenAI Is Key To Personalized Customer Experiences (And How Marketers Can Start Using It) by Ab Gaur (Forbes) In 2024, personalization is the marketing strategy. Let’s learn from some of the best.

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Customer Experience in Banking: A Guide to Improve Trust & Satisfaction

InMoment XI

Introduce loyalty programs to reward long-term customers for their continued use of your banking services. By offering benefits like cashback offers, you can drive both customer satisfaction and loyalty. Accessed 10/14/2024. 35 customer experience statistics to know for 2024 ( [link] ). Accessed 10/16/2024.

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Top 5 Customer Service & CX Articles for Week of December 16, 2024

ShepHyken

Loyalty Programs Are GrowingSo Are Customer Expectations by Ed Crouch, Ben Eppler, Lauren Taylor, Christina Mhlenbein, and Elizabeth Hearne (Boston Consulting Group) This article explains that the incentives companies offer in a loyalty program must go beyond points, perks, and cash.

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The Power of Customer Behavior Analysis

InMoment XI

It also reveals revenue-driving behaviors, which can be valuable information for customer loyalty programs. Accessed 11/13/2024. This data can help you identify high-value customers, track purchasing trends, and evaluate the success of certain promotions, packages, or discounts. References HubSpot.