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The True Cost of Losing a Customer

BlueOcean

TL;DR: With every customer loss, you’re missing out on prospects and falling short of your lifetime customer value potential. It’s worth mentioning that many customer relationships can be saved even after a bad experience with the actual product or service, particularly if they choose to contact a customer service rep.

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The True Cost of Losing a Customer

BlueOcean

But if that interaction also results in a negative experience, the customer support experience can become the straw that breaks the camel’s back. Calculating Lifetime Customer Value. Obviously, the cost of losing a customer isn’t as simple as the loss of one particular sale or the associated make-good.

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Validating Your Outsourced Customer Care Partnership: Is Your Incumbent “Still the One”?

BlueOcean

Well, in a B2B customer success model, measuring renewal rates holds your outsourced partner accountable to targets that are tied to revenue and retention. Understanding Lifetime Customer Value (LCV) and how the service and support experience contributes to or detracts from the realization of LCV is critical ( more on the LCV metric here ).

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The True Cost of Losing a Customer

BlueOcean

TL;DR: With every customer loss, you’re missing out on prospects and falling short of your lifetime customer value potential. Its worth mentioning that many customer relationships can be saved even after a bad experience with the actual product or service, particularly if they choose to contact a customer service rep.

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What the Subscription Economy Teaches Us About Kick-Ass Customer Experience

BlueOcean

And it’s one that undeniably impacts our perception of the customer experience. Exploring Customer Care in the Subscription Economy. For those of us in the contact center space, the truly fascinating thing (besides the astounding growth itself) is the impact on customer care and the customer experience.

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What the Subscription Economy Teaches Us About Kick-Ass Customer Experience

BlueOcean

And it’s one that undeniably impacts our perception of the customer experience. Exploring Customer Care in the Subscription Economy. For those of us in the contact center space, the truly fascinating thing (besides the astounding growth itself) is the impact on customer care and the customer experience.

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Chasing Unicorns: Is It Possible to Have a Strategic Partnership with Your Contact Center?

BlueOcean

These metrics are important, but the other side of the ledger is the customer experience – and lifetime customer value. If you want to hand the keys for your customer care to a call center and sit back and wait for it to work, chances are your vendor is going to fail to meet your expectations.