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How to Win Leadership Commitment This article was originally published in part at [link] Introduction Customer Experience (CX) transformation has become a strategic priority for B2B organizations because it directly influences key business outcomes. Demonstrating the value of CX (e.g.,
This means ensuring that every investment in CX improvement is linked to measurable business outcomes , gaining leadership buy-in , and ensuring every department contributes to a unified, customer-centric vision. reducing churn by 15%, improving customerretention by 10% , increasing customer effort score (CES) by 25% ).
A recent study by McKinsey found that 87% of companies leveraging advanced customer analytics outperform their competitors in customerretention and engagement ( McKinsey ). This approach requires an all-in commitment, from leadership buy-in to cross-functional collaboration.
Making the Case for Customer Experience Beyond Customer Service to Leaders Prioritizing customer experience as an organizational mindset requires buy-in from the leadership. The best way to gain this buy-in is to prove how a better customer experience can fulfill team goals and directly impact the bottom line.
Meeting these elevated expectations is not just about customer satisfactionit directly impacts the bottom line. Research shows that B2B companies with superior customer experience achieve higher revenue growth, better customerretention, and lower service costs than their peers.
THIS is why convincing executive leadership to prioritize and invest in CX initiatives can be a challenge. And yet, leadership buy-in is a critical part of customer experience success. Let’s get some leadership attention for what we really need. But it can’t be a priority without funding, resources, and defined outcomes.
I talk often about customer experience , but recently I’ve heard from some followers that they’d like a bit more on customerretention. The first thing to understand about customerretention is that obviously it comes straight from customer experience. Five steps for regaining customer trust.
Customer Experience and Ease of Doing Business B2B buyers increasingly expect consumer-level simplicity and speed. Firms that make interactions effortlessfrom onboarding to supportcan significantly boost customerretention. McKinsey & Company , March 23, 2023. link] Almquist, Eric, Jamie Cleghorn, and Lori Sherer.
What’s better than gaining a new customer? That’s why a high customerretention rate is an important goal for many businesses. Excellent customer service is one of the best ways to achieve this goal. Customerretention supports long-term growth because it creates a loyal customer base.
Aligning the Organization’s Culture The organization’s culture should support and promote customer-centric values. This can be achieved through training programs focused on empathy and customer service, performance metrics prioritizing customer satisfaction, and leadership modeling these priorities.
Establish a Cross-Functional Leadership Team Start by creating a cross-functional leadership team that promotes collaboration across departments. This team should be responsible for ensuring alignment on company goals, customer experience, and operational priorities.
Background on Samsung and Apple To fully understand how Samsung and Apple differentiate in customer experience, it’s essential to delve into the backgrounds of these two industry titans. Here, we provide an overview of their corporate structures, leadership, and financial performance.
If theres one truth about VoC that hasnt changed, its this: without leadership buy-in, your program is dead on arrival. Its not technology, survey design, or even customer response ratesits whether someone at the top is taking CX seriously and making it a top priority within the organization. AI can keep revealing insights.
Are you creating an innovative customerretention strategy for what is new and next? Consequently, retaining the clients you acquire today and those you target tomorrow drives the future of your innovative customerretention strategy. Is your sales team still the primary star of the customer acquisition show?
How are you planning to leverage conversations to drive revenue and customerretention? Join us as we explore the technology and strategies needed to accelerate key initiatives, improve customerretention and drive revenue growth in today’s enterprise. Find out at Uniphore Converse 2022 on. Register Now.
Aligning the Organization’s Culture An organization’s culture should support and promote customer-centric values. This can be achieved through training programs focused on empathy and customer service, performance metrics prioritizing customer satisfaction, and leadership modeling these priorities.
Retaining customers is essential for business growth. At HappyOrNot, we understand that the key to boosting customerretention is effectively using feedback analytics. Feedback insights help craft a customerretention strategy that keeps loyal customers happy as well as attracts new ones.
An enlightened cross-functional customerretention strategy is key to strategic business success. After all, retaining customers is central to business longevity. Because professional proactivity is central to a cross-functional customerretention strategy. You know this. I know this. We all know this.
For example, if you identify long wait times in customer service, the support team can work on optimizing response times. Engage the leadership by showing how VoC analysis affects company goals like boosting retention and revenue. Must-know customer service statistics of 2024 ( [link] ). Sources Khoros.
In this article, we discuss the role of support teams in retaining customers and show how to combine high-quality, empathetic customer service with a deliberate focus on business growth. What is customerretention and how is it measured? 15 practical ways customer service teams can improve retention.
One day, I hope I do get the chance to meet him – as I have said in the past, if I ever do, I will give him a hug and thank him for changing the way the world thinks about the customer. The post Role model customer centric leadership: why I am a huge fan of Jeff Bezos! I will thank him for being my business hero.
Some include: Customer satisfaction. Customerretention. Ultimately a lot of this comes back to (a) revenue and (b) system performance; the incentives tend to be around those spaces. How quickly people on-board. SERP (search result pages) change constantly at Google. Tons of testing/analysis.
Your company has surpassed its annual goals for customerretention, referrals, and satisfaction. C-level leadership is thrilled, and the customer experience program you helped develop was instrumental to this success. Article] Improving your Voice of the Customer listening posts? How did this happen?
NPS is short and simple for the customers to answer and it is very easy to track for companies. NPS consists of only two questions and it gives that one customer experience related number your leadership needs for target setting and bonuses. to retain existing customers than it is to acquire new customers.
In our conversation, Aisling Hassell addressed the challenges of communicating effectively with your leadership team and your employees. And obviously, the last couple of months, as myself and my leadership have had to recast that vision. “When you talk about concern, anxiety and sustainability kind of go hand-in-hand.
Defining What Customer Experience ROI Looks Like There are countless ways to show the value of your CX efforts. Customer Experience Strategy Success Statement , which identifies the specific customer experience outcomes that will matter most to your organization and how those tie to the broader company and leadership team goals.
Surprised to enter 2022 digging yourself out of a huge 2021 customer defection hole? It just could be you left your entire client retention strategy up to the virtual customerretention dog. What excuses do you make to your managers about your less-than-stellar rate of customerretention?
There are four pillars that serve as the stabilizing foundation of any customer experience program: . Purposeful leadership: Leaders within a company need to be aligned on the importance of CX and must agree on the proposed strategy. You can prove an increase in revenue through customerretention and sales optimization. .
Why is Customer Experience ROI So Important? Investing in customer experience isn’t just about making customers happy—it’s about driving substantial business growth. As a result, ROI becomes a crucial metric in customer experience metrics for any business focused on achieving lasting success.
This ‘’culture’’ ensures that every employee in the organisation is committed to delivering the best possible experience for the customer. The pillars of a customer experience culture are: Customer-focused leadership: The leadership of the organisation sets the tone for customer experience culture.
Customer Lifetime Value (CLV) : Estimates revenue potential from a customer over their lifetime. Revenue Growth: Tracks growth directly attributed to customer experience initiatives. CustomerRetention Rate (CRR) : Measures the ability to retain customers over time.
This means ensuring that every investment in CX improvement is linked to measurable business outcomes , gaining leadership buy-in , and ensuring every department contributes to a unified, customer-centric vision. reducing churn by 15%, improving customerretention by 10% , increasing customer effort score (CES) by 25% ).
Customerretention is paramount in keeping a SaaS company afloat, particularly as a company matures. While customer acquisition and lead conversion are integral parts of growing a SaaS business, with time, retention and renewals gain equal and eventually greater importance.
In this article, the second in a series of four, we’ll continue our journey into digital transformation in customer service by looking at the best practices for adopting a digital transformation service strategy. Engaging With Leadership. To executive leadership, the overriding benefit of digital transformation is cost savings.
In terms of revenue growth, businesses that invest in CX often see higher customerretention rates and increased lifetime value of clients. Customer-centric organizations tend to outperform their competitors because they consistently deliver value across the customer journey.
CCO survival kkill: Creating a unified leadership team. I usually call this “one-company leadership.” Unifying leadership teams has been a theme of my life’s work, and you’ll see it in dozens of podcast quotes I’ll provide Thursday. 35 data-backed approaches to customerretention.
Your CX strategy should reflect where your organization currently stands with its customer experience and define a clear vision for where you can go next. A well-defined CX strategy can help you drive tangible business outcomes: Greater customerretention, a stronger brand reputation, and faster revenue generation.
This seismic shift often faces resistance from employees deeply rooted in traditional practices, who may struggle to see the immediate benefits of a customer-first approach. Companies grapple with ingrained behaviours, leadership communication gaps, and inadequate training programs. times higher customerretention and 1.9
“If you have a customer success job in an organization that isn’t interested in customerretention, you need to consider doing something else,” says Lucy Norris , Executive VP, Global Leader of Customer Success at Genesys , a technology company that provides solutions for customer experience, marketing, and sales.
I’m talking about the 2022 Customer Success Leadership Study (much more exciting, IMHO). For the third year in a row, we’re tracking all the twists and turns unfolding in the Customer Success industry. For additional insights on Customer Success influences and trends, download the full 2022 Customer Success Leadership Study.
She shares 5 customer service strategies that improve customerretention. People may cut companies some slack if a product doesn’t quite work as expected, but only when the customer service experience makes up for these missteps. . What’s the main reason that customer service is so important?
What Is Customer Loyalty and Retention (And 3 Tips for Improvement) by Scott Clark. CMSWire) Although the terms “customer loyalty” and “customerretention” are often used interchangeably, they actually refer to two different things. My Comment: I hear it over and over again from B2B leadership.
Cross-functional leadership is a key factor in leading any customer experience program. Check In: Review customer feedback and discuss any key customer experience metrics. . This is a good time to address processes around customer feedback, too.
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