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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 LifetimeCustomer Value. Obviously, the cost of losing a customer isn’t as simple as the loss of one particular sale or the associated make-good.
Well, in a B2B customer success model, measuring renewal rates holds your outsourced partner accountable to targets that are tied to revenue and retention. Total Value Returned Rate is a key metric that also has to be tied to customerretention. Grab a copy of our eBook, “Is a Strategic Partnership Even Possible?”
For example, if you send an email to an existing customer promoting a new product and they decide to call directly from your listed phone number, it’s clear this online marketing channel is driving over-the-phone conversions. You can then calculate how valuable these interactions and conversions are from lifetimecustomers.
For more than 2 decades, Catherine has led the highest Customer Success executive positions at world’s best organizations. A thought leader and a remarkable writer, she has published several blogs, eBooks, and whitepapers around customerretention and customer health. Andrew Michael. Swati Garg. Donna Weber.
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