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40 Customer Retention Statistics You Need to Know

GetFeedback

Learn about the top two customer surveys for predicting and increasing customer retention. Anytime a customer cuts ties, you experience the negative impact of customer churn. Here are 40 customer retention statistics that reinforce the growing need for customer experience management.

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Churn Prediction: How to Predict It for Customer Retention

InMoment XI

companies could save over $35 billion annually by satisfying existing customers? Understanding why customers want to leave can help you retain them and reduce acquisition costs. But, how do you identify customers at risk of leaving? You could guess based on their activity, but that would be ineffective.

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Karen Hertzberg: Improving Customer Retention Through Great Customer Service

Bill Quiseng

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.

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Technology Based Solutions to Enhance Customer Retention Strategies

TechSee

With Accenture reporting that 77% of consumers are no longer loyal to any particular brand, companies must work harder than ever to retain their customer base. The churn rate is calculated by dividing the number of customers lost by the total number of customers. The price of a high customer churn rate.

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Decoding the Feedback Dilemma: A Strategic Framework for Evaluating Customer Requests

ECXO

Assess Strategic Alignment: The Backbone of Decision-Making The first and most crucial filter for evaluating feedback is determining how well it aligns with your company’s strategic goals. Instead, it studied data from multiple sectors, realizing that an API enhancement would benefit its global customer base.

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Why You Should Aspire to Drive Customer Lifetime Value—Not ‘Just’ Upsell Customers

InMoment XI

Cross-selling and upselling have formed the bedrock of brand aspirations for their existing customer base for a long time now. Using these pillars allows companies to spell their programs out in financial terms, which is essential to quantifying their impact and gathering support.

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Customer retention in the telecom industry – new thinking

TechSee

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.