40 Customer Retention Statistics You Need to Know
GetFeedback
JANUARY 5, 2020
Churn can cripple any organization. These 40 customer retention stats reinforce the growing need for effective customer experience management.
GetFeedback
JANUARY 5, 2020
Churn can cripple any organization. These 40 customer retention stats reinforce the growing need for effective customer experience management.
BlueOcean
JANUARY 6, 2020
Competitive pressures, customer expectations, and emerging technologies are some of the key factors pushing leaders to elevate and evolve their customer service approach. We often talk about omnichannel as the ultimate goal for any and every customer service solution. But there’s a lot to unpack when it comes to creating and sustaining an effective, elegant omnichannel design that truly improves the customer’s holistic experience with your brand.
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Experience Investigators by 360Connext
JANUARY 7, 2020
Charging into the new year, it’s easy to want to name what’s ahead of us. I am seeing a few enthusiastic sorts claiming 2020 will be “The Year of Experience,” “When Experience Finally Wins” or “The Year of the Customer.” I ask you to greet these well-meaning mantras with appropriate suspicion. For one, a quick Google search will bring you articles that claim 2019 was “The Year of the Customer.” That same search will tell you that 2018 w
TechSee
JANUARY 7, 2020
With the telecommunications industry at saturation point, and with services largely commoditized, providers suffer from exceptionally high rates of churn. Accenture reports that 77% of consumers are no longer loyal to any particular brand, telcos must work harder than ever to retain their customer bases. Acquisition costs far outweigh those of keeping current customers, further motivating companies to implement innovative strategies to boost customer retention in the telecom industry.
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Customer education has become a key driver for growth, retention, and product adoption. Our latest 2024 State of Customer Education Report uncovers critical data and insights from a survey of over 200 industry leaders, offering a look at the evolving role of education in driving business success. Inside, you'll find data on key trends and strategies, including: Strategies for Scaling & Customization: Find out which investments in learning technology deliver the biggest ROI and scalability.
GetFeedback
JANUARY 6, 2020
After Voice of the Customer (VoC) , nothing is more closely associated with Customer Experience Management (CXM) than a customer journey map (CJM). . By creating a visual depiction of the steps that customers take in an experience, including how customers feel after interactions, CX leaders can diagnose problems and design new experiences for the future.
CXDNA Update brings together the best content for customer experience professionals from the widest variety of industry thought leaders.
InMoment XI
JANUARY 7, 2020
Introducing the second CX Café Customer and Employee Experience Podcast: CEO of MaritzCX, Mike Sinoway, talks about innovations that are emerging in the customer experience industry. Hear about how things are evolving, and learn how to properly utilize certain technologies to receive a positive response from your customers.
Beyond Philosophy
JANUARY 10, 2020
If I asked you for $100, what would you say? My guess is no. You probably have a rule against giving people money just because they asked you. But what if I asked you for $1? Most of us would probably be okay with that. Sure, it’s still giving money, but it’s only $1, and that isn’t the same thing. However, by saying yes to giving me $1, you broke your rule about giving people money just because they asked you.
GetFeedback
JANUARY 6, 2020
Customer feedback is critical for good business as it identifies strengths and blind spots in your customer experience. But, simply.
ShepHyken
JANUARY 8, 2020
One of our faithful Shepard Letter subscribers emailed me a story. He was at a store, and the employee was friendly and engaging. But when he saw her later—when she was off duty—she acted indifferent toward him, almost rude. She wouldn’t even smile, which made him wonder, “Shouldn’t people greet you as warmly outside of their work environment as they do while on the job?”.
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Understanding and improving your customer experience (CX) can have a massive impact on your bottom line. Choosing the right voice of customers (VoC) solution is a critical step to elevating CX. Frost & Sullivan researched more than 50 leading VoC vendors, analyzing both their “innovation index” and “growth index” to independently select the top 10 performers in each of these categories.
ProProfs Chat
JANUARY 7, 2020
Customer. Vendor. Seller. Buyer. All of them have been around since the concept of commerce started. Fast forward to 2020. Today, it is all about the ‘Age of the Customer’. Businesses have grown more concerned; some may say, even obsessed with how their customers are treated. . And rightfully so. . It only takes one bad experience for the customer to swear off your business forever. .
Heart of the Customer
JANUARY 7, 2020
I heard Lee Becker, Chief of Staff of the Veterans Experience Office (VEO) of the VA speak at a recent Medallia conference and was blown away by his remarks. I reached out for an interview because I wanted to share with a broader audience his thoughts on what it’s like to drive change within a […]. The post Creating a Customer-Centric Agency at the Department of Veterans Affairs (VA) appeared first on Heart of the Customer.
GetFeedback
JANUARY 6, 2020
Learn how to take the data you've gathered via your online surveys, and turn that information into visually engaging presentations.
ShepHyken
JANUARY 10, 2020
This week we feature an article by David Meerman Scott who has written a new book, Fanocracy: Turning Fans into Customers and Customers into Fans about turning customers into customers and customers into fans. He shares a couple of examples about how companies have used lying and “Fake news” to turn customers into fans. Do you believe statements like “Your call is important to us” or “Due to higher than expected call volume, your wait time is longer than normal”?
Speaker: Laura Noonan, Chief Revenue Officer at CallFinder + Angie Kronlage, Director of Program Success at Working Solutions + April Wiita, Vice President of Program Success at Working Solutions
Are you still manually reviewing calls? 🤔 It's time for a change! The traditional method of manual call monitoring is no longer cutting it in today's fast-paced call center environment. Industry experts Angie Kronlage and April Wiita from Working Solutions are here to explore the power of innovative automation to revolutionize outdated call review processes!
Customers That Stick
JANUARY 7, 2020
Here it is! Our first official blog post of the 2020s. What better way to start off the new year and new decade — a decade that I hope will be marked by incredible improvements in customer experience design, thinking, and execution — than by taking a look at one of the most essential ingredients of customer experience: leadership. The Culture/Experience Connection.
Michel Falcon Experience
JANUARY 9, 2020
BREAKING IT DOWN EPISODE 1 FT. Kristi Herold. On Breaking It Down, I sit down with entrepreneurs and business executives to help them solve company culture, employee engagement and customer experience challenges in their organization. I HAVE NOT BEEN PREPPED. What does this mean? My answers and solutions are honest, authentic and TRUE. On the premiere episode with CEO/Founder of Sport and Social Group Kristi Herold and I explore: 1.
GetFeedback
JANUARY 4, 2020
When companies prioritize the experience customers have with their brand, everyone benefits in the long run.
Upstream Works
JANUARY 9, 2020
So far, this series has addressed the impact of digital transformation and the importance of personalization as key contact center trends to follow in 2020. That’s a lot of ground to cover, but these are the core building blocks for delivering a great customer experience – CX – all the time. While that level of customer support may only seem aspirational, it’s actually quite achievable when you deploy the right technologies to drive the right outcomes.
Speaker: Nicholas Zeisler, CX Strategist & Fractional CXO
The first step in a successful Customer Experience endeavor (or for that matter, any business proposition) is to find out what’s wrong. If you can’t identify it, you can’t fix it! 💡 That’s where the Voice of the Customer (VoC) comes in. Today, far too many brands do VoC simply because that’s what they think they’re supposed to do; that’s what all their competitors do.
ProProfs Chat
JANUARY 10, 2020
As a support agent, you need to be on your top game when dealing with customer issues. . You can’t lose your temper. . You can’t be agitated if your customers don’t understand the solution you propose. You need to be totally honest, calm, and polite when dealing with customers. . But, what if you don’t have a clue as to whether the customer contacted with a similar issue before?
SurveySparrow
JANUARY 8, 2020
Evidently, social media is taking over the marketing arena and most of the conventional marketing methods have gone out of vogue. Yet Email Marketing still has a relevant role to play even to this day and is used by zillions of enterprises around the world. Email survey software and email marketing tools are in huge demand. Why so? An email marketing service provides you with the highest ROI( Return on Investment).
Solvvy
JANUARY 8, 2020
The ball has just dropped on a new decade—and it’s still hard to believe how much technology has transformed the customer experience in the past ten years, with the growth of self-checkout stations, real-time virtual assistant support, and robust CRMs to track and manage every phase of the customer experience, to name just a few. . Ordering pizza shows how times have changed: Back in 2010, Domino’s had recently introduced its web and smartphone ordering platforms, but most cust
Lumoa
JANUARY 9, 2020
We share a simple checklist you can use to quickly start measuring your customer experience. Even if you’re already measuring customer experience, the checklist will make sure you’re hitting all the right points along the way.
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The annual Cognition virtual conference is back on October 16, and this year it’s FREE! You’ll enjoy: Inspiring Keynotes from top learning industry leaders, providing fresh perspectives to help you outperform the competition. Hands-on, Skill-Building Sessions to elevate your growth, retention, and product adoption strategies. Exclusive First Look at the latest innovations from Thought Industries, empowering you with tools to grow faster.
One Millimeter Mindset
JANUARY 9, 2020
Are complex story details in the stories you tell falling short of getting your point across to colleagues, investors and clients? As a result, the decision you ask them to make is lost in the details you spiel at them. This is not exactly the storytelling outcome you desire, is it? Consider these four reasons why complex story details impede client decision making.
Inbenta
JANUARY 8, 2020
Self-service: definition. Self-service is a solution or a group of solutions enabling your web users to be completely autonomous on your website or intranet. This affect actions that are usually quite simple, such as managing a contract, asking for a quote or even finding the answer to a customer support request. Self-service: to meet what need? The implementation of one or more self-service solutions becomes relevant when a client service department is facing numerous online requests, to the po
Thematic
JANUARY 5, 2020
I rarely visit a bank in person, but I use my bank’s website every week. I’m sure I’m not alone, and often wonder why every banking website I’ve used feels like the equivalent of walking into a building with torn carpet, flickering lighting, and a couple of leaky pipes overhead. I always look around and think, “this should be a whole lot better.” And I’ve long been interested in using a bank built around online services.
ProProfs Chat
JANUARY 9, 2020
An average company loses 10 to 30 percent customers annually and gaining new customers is around 10 times costlier than keeping the existing ones happy – Philip Kotler. These words from the father of modern marketing, themselves indicate how crucial the customers are for any business. While most people think that acquiring customers is the key to every successful business.
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Customers expect to be able to interact with your organization whenever and however they want. They also expect your agents to have insights into their journeys so that they don’t have to repeat themselves as they move through various channels. And, if they’re not able to, they just might find one of your competitors who will offer the flexibility they are looking for.
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